LOTTE HOTELS & RESORTS migrates to Sabre SynXis Central Reservations System

Rhea-AI Summary

Sabre Hospitality, a division of Sabre (NASDAQ: SABR), has become the primary reservation platform for LOTTE HOTELS & RESORTS, South Korea's largest hotel group. This migration to Sabre's SynXis Central Reservation System (CRS) marks a significant milestone for LOTTE, streamlining reservation processes and enhancing distribution capabilities across their portfolio.

The enhanced alliance includes the implementation of several advanced Sabre Hospitality solutions, such as SynXis Retailing, SynXis Booking Engine, Corporate Booking Tool, Voice Agent, Meta Search, and Channel Connect. These tools aim to improve operational efficiency, increase revenue, and elevate the guest experience.

LOTTE HOTELS & RESORTS currently operates 35 hotels in seven countries, with a diverse brand portfolio including SIGNIEL, LOTTE HOTELS, L7 HOTELS by LOTTE, LOTTE City Hotels, LOTTE RESORT, and VL premium residence.

Positive

• Migration to Sabre's SynXis CRS enhances reservation and distribution capabilities
• Implementation of multiple advanced Sabre Hospitality solutions to improve efficiency and revenue
• Potential for increased revenue through seamless selling of services and experiences
• Improved online visibility and real-time distribution across multiple platforms

Negative

• None.

News Market Reaction

-0.60%

1 alert

-0.60% News Effect

On the day this news was published, SABR declined 0.60%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

South Korea's largest hotel group is deploying an extensive suite of Sabre Hospitality technology across its brands to further enhance distribution, reservation management, and guest experience capabilities

SINGAPORE and SEOUL, South Korea, Oct. 14, 2024 /PRNewswire/ -- Sabre Hospitality, a division of Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, is now the primary reservation platform for LOTTE HOTELS & RESORTS.

This migration marks a major milestone for LOTTE HOTELS & RESORTS as they transition to the advanced capabilities of Sabre's SynXis Central Reservation System (CRS). The strategic move will streamline reservation processes and distribution capabilities across the LOTTE portfolio, while enhancing retailing opportunities, and supporting their growth ambitions in South Korea and internationally.

"We're laser focused on enhancing the end-to-end experience for our guests, which is why we chose to deepen our alliance with Sabre Hospitality," said Jaehwan Kim, Chief DX Officer of LOTTE HOTELS & RESORTS. "By adding our properties to the SynXis CRS, we are positioning ourselves to better serve our guests with more efficient and seamless reservation experiences. This enhanced collaboration with Sabre marks an exciting new chapter for us, as we continue to expand our footprint and deliver exceptional luxury experiences across the globe."

Through this enhanced alliance, LOTTE HOTELS & RESORTS will use a number of advanced Sabre Hospitality solutions to further elevate the guest experience and improve operational efficiency. These include:

• SynXis Retailing to seamlessly sell services and experiences, with or without a room booking, helping to increase hotel revenue;
• SynXis Booking Engine to optimize their direct booking path and convert customers;
• Corporate Booking Tool for managing business travel;
• Voice Agent for enhanced direct customer interaction;
• Meta Search to improve online visibility; and
• Channel Connect to ensure real-time distribution across multiple platforms.

LOTTE HOTELS & RESORTS, the largest hotel group in Korea, is currently operating 35 hotels in seven countries. It has also gone on to acquire a brand portfolio ranging from SIGNIEL, the company's premium landmark hotel brand; LOTTE HOTELS, a classic upscale hotel; L7 HOTELS by LOTTE, a lifestyle hotel; LOTTE City Hotels, optimized for business travellers; LOTTE RESORT for family travellers; and the VL premium residence for seniors, satisfying a wide variety of guests and travellers' needs. 

"We're delighted to amplify our alliance with LOTTE HOTELS & RESORTS. This new agreement is a testament to our advanced technology, strong relationship, and deep market and global expertise," said Frank Trampert, Senior Vice President, Global Managing Director of Sabre Hospitality. "The migration to our cloud-based SynXis CRS will empower LOTTE HOTELS & RESORTS with advanced technology to optimize operations, reach new markets, and enhance guest experiences."

About Sabre Corporation   
Sabre Corporation is a software and technology company that takes on the biggest opportunities and solves the most complex challenges in travel. The Company connects travel suppliers and buyers around the globe and across the ecosystem through innovative products and next-generation technology solutions. Sabre harnesses speed, scale and insights to build tomorrow's technology today – empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. 

About LOTTE HOTELS & RESORTS
LOTTE HOTELS & RESORTS, the largest hotel group in Korea, is currently operating 35 hotels in seven countries. It has gone on to acquire a brand portfolio ranging from SIGNIEL, the company's premium landmark hotel brand; LOTTE HOTELS, a classic upper upscale hotel; L7 HOTELS by LOTTE, a lifestyle hotel; LOTTE City Hotels, optimized for business travelers; and LOTTE RESORT for family travelers; and VL, premium residence for seniors, satisfying a wide variety of guests and travelers' needs. Its Korean hospitality service has transformed them into South Korea's most iconic hotel group. Backed by its successful operations in domestic hospitality industry, LOTTE HOTELS & RESORTS is expanding beyond Asia to become a global brand by continuously developing and seeking innovation to improve its services and facilities.

For more information, please contact:

Media Contacts:
Kristin Hays
Kristin.hays@sabre.com

Investors: Brian Evans
sabre.investorrelations@sabre.com

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SOURCE Sabre Corporation

FAQ

What is the significance of LOTTE HOTELS & RESORTS migrating to Sabre's SynXis CRS?

The migration to Sabre's SynXis CRS is significant as it streamlines reservation processes, enhances distribution capabilities, and supports LOTTE HOTELS & RESORTS' growth ambitions in South Korea and internationally.

Which Sabre Hospitality solutions will LOTTE HOTELS & RESORTS be using?

LOTTE HOTELS & RESORTS will be using several Sabre Hospitality solutions, including SynXis Retailing, SynXis Booking Engine, Corporate Booking Tool, Voice Agent, Meta Search, and Channel Connect.

How many hotels does LOTTE HOTELS & RESORTS currently operate?

LOTTE HOTELS & RESORTS currently operates 35 hotels in seven countries.

What are the potential benefits for LOTTE HOTELS & RESORTS from this migration to Sabre's system (SABR)?

The migration to Sabre's system (SABR) is expected to enhance LOTTE HOTELS & RESORTS' ability to optimize operations, reach new markets, improve guest experiences, and increase revenue through advanced retailing capabilities.