YTB Ranked 25th in Travel Weekly Power List
Monday, June 22nd, 2009The annual Power List from Travel Weekly currently ranks YTB International #25 for 2008 out of a record number of agencies this year with 62 companies with travel sales of more than $100 million. All of the agencies in this years Power List faced a common enemy during the latter part of the year, that being the economy. As we are now at the half way point of 2009, many on this years list are not as optimistic as they once were about travel sales and expect a decline anywhere between 15% – 25% between 2008 and 2009.
The economy is one thing, but when a company such as YTB has to endure fear based attacks from a small, yet extremely loud group of critics who desperately need to control free enterprise and exaggerate every move the company makes, is another. With the legal attacks combined with the mud thrown up on the internet via blogs, forums, and message boards, a year over year increase of any amount should show the stability and resolve of our model for anyone who has two wits about them.
Regardless of which side of the fence you reside, the following numbers appear in Travel Weekly’s 2009 Power List.
– 2008 Sales: $424.1 million
– Employees: 317
– Previous Ranking: 26
– ARC sales of $2.76 million
– 85% of sales from leisure travel
– Hosts 92,383 travel sellers
– Owns Rezconnect Technologies Inc.
– Publicly held
True, some spent the last year focused on creating excuses and never gave YTB a chance to survive and/or make this years Power List. Accusations of bankruptcy or being prohibited from conducting business outright started the second claims were filed by the State of California which magically appeared the day before the YTB’s National Convention in August of 2008. Its sad, but some appeared to have missed or simply forgot that there was a legal process that needed to take place. As we’ve seen so many times before, relying on negative speculation rather than facts can damage ones credibility as some sort of expert.
Few have also knocked the legitimacy of the Power List with any excuse they could come up with. It was last years list with a huge jump from #35 to #26 and 84% growth that more than likely had something to do with the desperate pleas posted for anyone who would listen to in order to stop YTB from co-existing with names like American Express, Carlson Wagonlit, Expedia, Travelocity, Orbitz, and Priceline.
With so much press and attention on YTB it’s not surprising that Travel Weekly once again made special note of our company in this years list.
One company that has seen its share of headlines recently is YTB (No. 25), a publicly traded multilevel marketer with and ARC appointment and a reported $424 million in travel sales, most of it through a network of tens of thousands of small hosted, work-from-home recruits.
A source of unending controversy since it first gained national attention a few years ago, YTB recently settled an action brought by the State of California that accused the company of operating an illegal pyramid scheme. Even if YTB succeeds in transforming itself into a franchise operation and fulfilling the other terms of the California settlement, the company is likely to remain a galvanizing force for friends and foes alike.
For the purposes of the Power List, however, only one thing matters: total sales. Although this number is not included in YTB’s annual financial report to the Securities and Exchange Commission, it is consistent with a company statement to the SEC.
“During fiscal 2007, the aggregate value of retail travel services that have been booked by our RTA’s and independent franchises surpassed $400 million”. YTB reported in the statement.
The company has stated that the total represents retail travel sales and excludes revenue from other activities.
Like it or not, YTB continues to make headlines in this industry because YTB is a major player when it comes to actual travel sales. A few clearly don’t understand the difference between gross sales and actual income generated from those sales reported in our SEC filings. If some can’t comprehend that it takes $424 million in sales to generate $27 million in actual revenue in the travel industry, I’d question how much they truly understand thier industry. However, because there’s a very clear and distinct fear surrounding MLM and recruiting, all focus and attention points directly at revenue generated from recruiting compared to income generated from travel. Those of us that can make the distinction between the two revenue streams have understood for years how silly such comparisons are. Why the perceptions between apples and oranges and these fears persists after all these years is a question I’ve long given up asking.
I couldn’t possibly tell you what type of excuses will come from this years list. You can be assured that like other years, something will be pointed out here that will attempt to question the validity and accuracy of this report when it comes to YTB. In order to come up with these excuses however, desperate critics will need to toss out the fact that YTB is one of very few that are publicly traded companies who answer to the SEC. They will also toss out YTB’s appearance on this list for it’s third straight year. And lastly, the special notes surrounding YTB in Travel Weekly’s introduction, like last year will be completely ignored and the beliefs and opinions of these few critics will appear to some as an overriding and dominant fact, instead of desperate pleas for attention to make all things right with thier own little world.
There comes a time when you should stop and look at the reports such as this and compare them with all the excuses we’ve seen over the years. Demands for clarification or additional questions directed at YTB and Travel Weekly have played out for far too long. Both YTB and Travel Weekly don’t appear to be all that concerned, and continue to stick with the same qualifications they always have despite the pleas and concerns.
Some will continue as they always have because changing thier beliefs would be far too upsetting and create too much turmoil. Others however, will begin to see things for what they truly are. If you’re of the latter, I welcome you to the idea of MLM and Travel as major player in the Travel Industry.
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Doug & Ronda Bauknight AKA: TravelPro Travel Agent / Networker Phone: 678.458.5812 |
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