On April 1, there was a funny April Fool's prank started by a colleague of mine and I picked up on it and posted that YTB was being acquired by Travel Acquisitions Group. A few days later, in a press release, YTB announced that they were seeking a company to purchase. Through some investigation I posted that the intended target was Hickory Travel Systems of Saddle River, NJ.
This will be an interesting acquisition , if it ever takes place and I wonder what YTB would get in the long run. I spoke with a mid-level colleague at Hickory and the word of YTB is spreading like wildfire. While the company will not comment specifically, I was told that on March 25, 2008, Scott Tomer and The Coach spent an entire day in Saddle River behind closed doors. I cannot say it was them with 100% certainty but I was told it was "a guy in a Hawaiian shirt and an older man wearing a YTB polo-type shirt". Toss in the fact that their jet filed and flew a flight plan from St. Louis to Teterboro, NF (6 miles from Saddle Brook) and I think we can all figure it out. Employees were told of a possible acquisition on April 8th, but no one officially named names.
But, Hickory has a long history in the travel industry and is composed of, get this, Traditional Travel Agents. Nervous agents. Agents who are frantically putting resumes out on the steet and actively looking for jobs. These same employees have seen Hickory picked apart over the years and recently lost Travel Leaders to TAG (ironic that the April Fool's prank involved TAG as well huh?).
I am not so sure how much is actually left of Hickory, but it seems that YTB may be circling the skies like a vulture to pick up what they can. But, if the employees are actively seeking new employment, what is the attraction? I know YTB is has tried to purchase their IATA accreditation by buying the small Ontario travel agency. Maybe this is just upping the ante? Maybe the loss of IATA accreditation was more of a big deal than they cared to admit?
But, I woudl hope that IATA is a bit smarter than that. After the accreditation does not automatically go along with the change in ownership. Hopefully YTB discovered this in their due diligence (which seems lacking to me considering the fiasco in China), or they likely will be buying an asset with few employees with a travel background and not much else. Just picture it now--it will be a clone of the existing HQ. A big building with very few years of combined travel experience.
Just a question for you TTAs...
ReplyDeleteSInce you say you hate MLM (even though it is really YTB), what is your thought of this...
http://www.cruiseshipcenters.com/JoinOurTeam/opportunities/franchise/home-based-franchise/full-details.htm
I want to know what you feel about the cost to get involved, the fact that they advertise involvement by mentioning travel benefits and work at home tax benefits.
Please, your opinions are welcome.
Again, franchises are not the same as MLM - different business models/legalities.
ReplyDeleteAnswered your question on another post.
ReplyDeleteA LITTLE TRAVEL HUMOR
ReplyDeleteA lesson to be learned from typing the wrong e-mail address!
A Minneapolis couple decided to go to Florida to thaw out during a particularly icy winter. They planned to stay at the same hotel where they spent their honeymoon 20 years earlier. Because of hectic schedules, it was difficult to coordinate their travel schedules. So, the husband left Minnesota and flew to Florida on Thursday, with his wife flying down the following day.
The husband checked into the hotel. There was a computer in his room, so he decided to send an e-mail to his wife. However, he accidentally left out one letter in her e-mail address, and without realizing his error, sent the e-mail.
Meanwhile, somewhere in Houston, a widow had just returned come from her husband's funeral. He was a minister who was called home to glory following a heart attack. The widow decided to check her e-mail expecting messages from relatives and friends. After reading the first message, she screamed and fainted.
The widow's son rushed into the room, found his mother on the floor, and saw the computer screen which read:
To: My Loving Wife
Subject: I've arrived
Date: October 16, 2004
I know you're surprised to hear from me. They have computers here now and you are allowed to send emails to your loved ones. I've just arrived and have been checked in. I see that everything has been prepared for your arrival tomorrow. Looking forward to seeing you then! Hope your journey is as uneventful as mine was.
P.S. Sure is freaking hot down here