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
