Leading Distributor of Las Vegas Area Show Tickets and Tours Will
Greatly Expand and Enhance Travelocity’s Travel Extras
SOUTHLAKE, Texas–(BUSINESS WIRE)–Aug. 31, 2004–
In a move expected to enhance its position in Las Vegas and
broaden its ability to sell show tickets, attraction passes and other
“travel extras” through its TotalTrip(SM) flight + hotel shopping
engine, Travelocity(R) and its parent company Sabre Holdings
(NYSE:TSG) today announced that Travelocity has acquired Las
Vegas-based All State Tours Inc., (“Allstate Ticketing”) a leading
distributor of show tickets and tours in the entertainment capital of
the world. As part of the purchase, Travelocity acquires the Allstate
Ticketing brand and the Web site, www.ShowTickets.com.
The acquisition closed on August 30, 2004 at a purchase price of
$25 million, paid in cash. Allstate will operate as a wholly owned
subsidiary of Travelocity.com, LP.
“This is a move rich with synergies which will immediately benefit
all of our Las Vegas-bound customers,” said Travelocity CEO Michelle
Peluso. “With Allstate Ticketing we look forward to solidifying our
leading position as the best provider of travel experiences to Las
Vegas. Beyond that, we will consider introducing Allstate’s proven
business model to other key leisure travel destinations. We also see
tremendous opportunities to build upon the success of the
ShowTickets.com Web site, as well as onward distribution of Allstate
Ticketing content.”
Allstate Ticketing currently offers tickets to 60 shows throughout
Las Vegas and manages four box offices for four Las Vegas casinos –
Flamingo, Harrah’s, Rio, and Sahara. The company also operates an
additional 20 ticket booths throughout Las Vegas, including one at
McCarran International Airport, and it owns exclusive rights to
operate ticket booths at Hoover Dam. Additionally, Allstate sells
tickets for tours of Hoover Dam, the Grand Canyon and Lake Mead. In
2003, the company sold approximately 30 percent of the show tickets in
Las Vegas for venues with less than 2,500 seats.
“Most of all, we are very excited about the Allstate team,” said
Ross Mantione, Travelocity vice president partner marketing. “Adding
almost 200 dedicated employees in Las Vegas to our Travelocity team is
a big move for us with many benefits. It will allow us to
significantly enhance our content and local on-the-ground marketing
and customer support in Las Vegas, a destination immensely popular
with our members.”
About Travelocity
Travelocity’s industry-leading technology and straight-talking,
honest information help travelers take more rewarding and affordable
trips. With 44 million registered users and booking nearly $4 billion
of travel in 2003, Travelocity negotiates thousands of low-priced
deals with the world’s most reputable travel providers – top airlines,
hotels, car rental companies, cruise lines, and other destination
attractions and services. Additionally, Travelocity offers
deeply-discounted rates for weekend getaways and dynamic packages
through its Last Minute Deals and TotalTrip(SM) shopping engines, and
provides customer service support over the phone 24 hours a day. Based
in Southlake, Texas, Travelocity also operates Travelocity
Business(SM) for corporate customers, powers international travel Web
sites in eight languages, and has been recognized for its consumer
advocacy and global leadership in online travel. More information
about Travelocity is available at www.travelocity.com. Travelocity is
owned by Sabre Holdings Corporation (NYSE:TSG), a world leader in
travel commerce. More information about Sabre Holdings is available at
www.sabre-holdings.com.
Cautionary Statement
Statements in this release which are not purely historical facts,
including statements about the expected benefits of this transaction
to Travelocity or other statements about anticipations, beliefs,
expectations, hopes, intentions or strategies for the future, may be
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. Readers are cautioned not
to place undue reliance on forward-looking statements. All
forward-looking statements are based upon information available to
Sabre Holdings Corporation on the date this report was submitted.
Sabre Holdings Corporation undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Any forward-looking
statements involve risks and uncertainties that could cause actual
events or results to differ materially from the events or results
described in the forward-looking statements, including risks or
uncertainties related to geopolitical developments, such as the risk
of terrorist attacks; and Sabre Holdings Corporation’s revenues being
highly dependent on the travel and transportation industries. Sabre
Holdings Corporation may not succeed in addressing these and other
risks. Further information regarding factors that could affect our
financial and other results can be found in the risk factors section
of Sabre Holdings Corporation’s most recent filing on Form 10-Q with
the Securities and Exchange Commission.
CONTACT: Travelocity
Media Contact
Mary Kate Smither, 972-488-4790
marykate@vollmerpr.com
or
Sabre Holdings
Investor Relations Contact
Karen Fugate, 682-605-2343
Karen.fugate@sabre-holdings.com
SOURCE: Travelocity