Sabre sells off hospitality tech unit for $1.1B

Dive Brief:

• Sabre Corporation sold its Hospitality Solutions business for $1.1 billion to global asset management firm TPG, the Texas-based travel tech provider announced Monday. 
• As part of the deal, Hospitality Solutions will become a standalone business, which TPG will invest in through its TPG Capital private equity platform. Hospitality Solutions does not include Sabre’s hotel B2B distribution business, which Sabre said “remains a strategic area of investment.” 
• Hospitality Solutions already provides software and tech solutions to more than 40% of the world’s leading hotel brands, according to the company. Sabre expects the transaction to…