The company has reported gains across both its travel and hospitality solutions business units in the third quarter of 2024
Nov 6, 2024
Travel Solutions revenue rose by 3% to $691 million, driven by an uptick in air, hotel, and other travel bookings. Distribution revenue increased 5% to $551 million, supported by a rise in bookings and a higher average booking fee.
Key takeaways
- IT Solutions: Revenue for the IT Solutions segment declined by 5% to $140 million, largely due to de-migrations. However, this was partially mitigated by an increase in boarded passengers and additional revenue streams;
- Hospitality Solutions: Hospitality Solutions revenue rose by $5 million, reaching $84 million. This growth was attributed to a favorable customer mix and increased central reservation system transactions, spurred by new customer deployments. Central reservation system transactions climbed 2% to $35 million.
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