A little bird just told me that Coach and Scott are meeting with the Executives of Hickory Travel Systems this morning and may be finalizing a deal.
It remains to be seen what form of deal it is. One report was claiming YTB was acquiring Hickory Travel Systems and I heard another that said YTB was looking to utilize some of the technology that Hickory has developed.
My guess is that this may be a shopping trip for a new IATA number. Stay tuned, story developing!
I see our sleek Lear 35A left St. Louis and arrived at Teterboro this morning at 08:31 AM EDT. This IS getting quite interesting!
ReplyDeleteOleScorekeeper
Click on OleScore to see the YTB's Learjet in flight!
Why in the world would they have to actually go there in order to contract for some services? More likely they're trying to buy in...
ReplyDeleteSounds like they are pretty desperate to try to get an IATA number...
ReplyDeleteMust suck to be an RTA and have over 5k in travel sales, but not be able to get your own card because you are with YTB....
Oh thats right - we were told RTAs don't want their own IATA cards...
I am fairly sure that IATA status is not transferable. Does anyone know for certain?
ReplyDeleteWith the recent development from IATAN and YTB, it's a given that IATAN would pull the rug out from under them if they were to buy Hickory. It only makes sense.
ReplyDeleteI believe a change of ownership requires IATA approval for the new owners in order to retain the IATA accreditation.
ReplyDeleteWell, our meeting in NJ is over and the YTB Lear is in the air heading back to St. Louis at the time of this post.
ReplyDeleteOlescorekeeper
I'm not sure IATAN would deny them a "transfer" - one would assume it woudl be under "hickory" and not "YTB" - the question would be, would YTB RTA's be allowed to use it? Probably all depends on percentage of ownership.
ReplyDeleteThey'd still have to do a minimum of $5K in travel sales to actually use it anyway.
ReplyDeleteResponsibilities
ReplyDeleteA travel agency will not be accredited or retained as an IATAN accredited agent when the travel
agency, or any person holding a financial or ownership interest in the travel agency, or any manager
who exercises daily supervision over the operations of the travel agency has:
a) been found within the last ten (10) years by a court of competent jurisdiction to have violated
any fiduciary obligation, or committed an act of fraud, embezzlement or similar activity; or
b) been involved in the financial management of a travel agency which has been removed from an
IATA ARP or ARC Agency List on grounds of default; unless it is determined that such travel
agent, person or manager did not participate in the acts or omissions that caused such default;
or
c) made a misleading statement or representation to obtain or retain this accreditation, or
d) improperly used an IATAN or IATA registered trademark or service mark.
Each unrelated agency sharing the same premise must meet the above requirements.
Guess this means very few TTA's have IATA cards.
ReplyDeleteAre you kidding Anon? I don't know of one personally that doesn't have one. Say at 10% that is only 50,000 per year in sales. My agency with 2 agents does 2.5 mill per year in gross sales. and we are considered small. TL meant you need to earn at least 5000K in commission/salary to receive one.
ReplyDeleteJohn said, "A little bird just told me that Coach and Scott are meeting..."
ReplyDeleteJohn, would that "little bird" be the YTB Learjet? I'm just saying that cuz you always seem to know where it's always going and you probably saw it's flight plan this morning. Just curious.
OleScorekeeper
I think John has friends at Hickory. He's sure been in the travel biz long enough to know a lot of industry people.
ReplyDeleteJust from reading news reports, I just thought only a few TTA's had the card.
ReplyDeletea) been found within the last ten (10) years by a court of competent jurisdiction to have violated
any fiduciary obligation, or committed an act of fraud, embezzlement or similar activity
d) improperly used an IATAN or IATA registered trademark or service mark.
ReplyDeleteSure looks like buying an accredited agency won't help YTB.
I imagine the above by Anon applies to a lot of YTB too. Yale or jail!
d) improperly used an IATAN or IATA registered trademark or service mark.
ReplyDeleteSure looks like buying an accredited agency won't help YTB.
I imagine the above by Anon applies to a lot of YTB too. Yale or jail!
Anon
ReplyDeleteActually about 65 people in my office hold a valid IATAN card. I've had mine for 18 years. See in a real travel agency people actually book travel, so $5K is a drop in the bucket.
"Anonymous said...
ReplyDeleteGuess this means very few TTA's have IATA cards."
You are an idiot - I do $5k in sales just about every morning - besides, the rule is $5k in commission anyway - and I do more than that every week. I've had my IATAN since '96 - approximately 1 month after entering the business. I don't know one real TA who does not have one.... even the our part-time ICs all qualify handily.
As for your stupid aspersions about "fraud, embezzlement, etc" - you continue to indicate that you are an idiot.....
As for the others - the "fraud/embezzlement" etc. clauses will not apply here as they've never been adjudicated as such. What will apply is that they have had the IATAN yanked previously and so can not get it back.....
The big question is, does a sale to YTB (or a YTB Partner) mean that Hickory's IATA will be yanked?
A travel agency will not be accredited or retained as an IATAN accredited agent when the travel
ReplyDeleteagency, or any person holding a financial or ownership interest in the travel agency:
d) improperly used an IATAN or IATA registered trademark or service mark.
I think the Canadian agency is in the process of losing their IATA.
ReplyDeleteWhy do you think that?
ReplyDeleteBecause YTB holds a financial/ownership interest, and they have lost their IATA for misuse of the IATA trademark.
ReplyDeleteYes, but of course IATA has to catch up with them on this first...
ReplyDeleteI think IATA knows as a change in ownship record has to be filed with IATA and ARC.
ReplyDeleteWell, we'll see when they catch up ....
ReplyDeleteIf IATA is already pulling hte Canadian Agency, why would YTB try to buy Hickory? There'd be absolutely no purpose to it....
Read the IATA change of ownership information. Any person or company that is in violation of IATA rules and buying another agency,forfeits IATA for that agency as well.
ReplyDeleteA travel agency will not be accredited or retained as an IATAN accredited agent when the travel
agency, or any person holding a financial or ownership interest in the travel agency:
d) improperly used an IATAN or IATA registered trademark or service mark.
If IATA is already pulling the Canadian Agency, why would YTB try to buy Hickory? There'd be absolutely no purpose to it....
ReplyDeleteYou are an idiot - I do $5k in sales just about every morning - besides, the rule is $5k in commission anyway - and I do more than that every week. I've had my IATAN since '96 - approximately 1 month after entering the business. I don't know one real TA who does not have one.... even the our part-time ICs all qualify handily.
ReplyDeleteI call BS! I could probably see you doing $5K in sales per day! Who is the largest travel agency? AAA? Hell, their agents don't even do $5K in commissions EACH in a week. Now, are you counting their hourly minimun wages for sitting in that office for 40 hours a week and the fees the clients pay up front into your equation?
Do your math. I will say $5k in sales is a good morning, but a good agent will produce $1.5 to $2 million in sales per year. At 2080 working hours that is $961 per hour in sales. I had an agent that was purely corporate (low yield airline tickets/hotels/cars) that wrote $3.1 one year--works out to $1500 per working hour.
ReplyDeleteNot like YTB where the average is something like 7 cents per hour. Of course when you produce like that it seems that $500 is BS.
Now I see Proud to Be YTB came back on so I need to explain that we are talking sales here. Not commissions. Sales are the bigger number. Commissions are the smaller ones!
"I call BS! I could probably see you doing $5K in sales per day! Who is the largest travel agency? AAA? Hell, their agents don't even do $5K in commissions EACH in a week. Now, are you counting their hourly minimun wages for sitting in that office for 40 hours a week and the fees the clients pay up front into your equation?"
ReplyDeletePlease re-read the above - I said that I do $5k in "sales" but that the IATAN rule is $5k a year in commissions...... And because I sell mostly high-end, I do indeed do $5k+ in commissions a week - I am expected to. This of course, is average - there are many weeks where no final payments are made and that is counted as "zero" in commissions, but there are many, many weeks where the commission is over $10k. Fees do also go into the amount I am expected to make. Fees vary from $45 - $250 depending upon what I am working on.