Sabre on Monday completed the $1.1 billion sale of its Hospitality Solutions business to asset-management firm TPG.
Sabre will net $960 million in the deal outside of taxes and fees.
Sabre president and CEO Kurt Ekert said the deal provides an opportunity to pay down debt and reduce the company's net leverage.
In a separate release, Hospitality Solutions under TPG announced its new CEO, Teresa Mackintosh.
Mackintosh was most recently CEO, then executive chair, of software company Trintech. Before that, she was president and CEO of Wolters Kluwer Tax and Accounting for the U.S. and a managing director at Thomson Reuters.