Two travel IPOs in one week signal faith in a resurgence
Sabre, whose $2.35 billion in revenue for the first nine months of 2013 was about even with year-earlier figures, said it would try to raise as much as $100 million in its offering.
Prestige, whose 2013 revenue through Sept. 30 rose 7.3% from a year earlier, to $917.4 million, indicated it hoped to raise as much as $250 million.
Those values are likely to change; companies registering with the Securities and Exchange Commission (SEC) for public offerings traditionally employ such figures as placeholders in order to calculate registration fees.
Regardless, both companies have boosted revenue in recent years as travel spending has rebounded, and both are looking to leverage that growth to raise money in the equity markets in order to pay down debt.