Well, the comments have been bursting at the seams about YTB moving up the ranks in the Travel Weekly Power List. Congratulations to YTB. It is certainly not a surprise with all the recruiting they did last year. The number was even reported back in April when they released their 10K to the SEC.
I am not going to dive into the report until I can get some explanation on a few key points. To do so would be futile (as it was last year) when in the end game, nothing was proven on either side other than everyone had a different opinion about what the numbers signified. Without hard numbers, people can "legitimize", "glean" and "amass" all they like. And it is my understanding that YTB was (for the dates this report included) unable to produce a true sales report because they did not have the software.
- $414M--this was reported as a note in the 10K and from what I was told by Doug Baughknight, YTB had no method to trackk travel sales unitl March 2008 when they installed a SAP program. If so, I imagine the $414 is anothe number "gleaned" and I also suspect that it was included as a note (and not in the actual financials) for this reason. Is the number in the ballpark? Probably, but is it exact? Doubtful.
- $211M--Last year there was a question of this number. This year, they have clarified this somewhat by saying that this number reflects the sales made by the RTAs. Well, since RTAs are the only ones selling travel, how much did they sell? Was it $414M or $211M. There is a big difference.
- $29.7M--ARC Sales. More on this later.
- 85% Corporate Sales--this has to be a mistake. Since when has YTB been a player in the Corporate travel market? And if true, why is the ARC number so low. ARC (airline) sales account for the vast majority of "corporate" sales. So, if YTB is 85% corporate that is $351M in corporate sales and the ARC sales should have been in the $250M range.
- 10% Leisure Sales--this is their market, and if this is true, the RTAs likely woudl have been responsible for $14.4 M or $21.1M in sales.
This year, Travel Weekly took it a step further and required an executive with each company to "certify" the numbers. I am not so sure what that mean or what the ramifications are if they are not "certified" accurrately; but that is up to Travel Weekly!
Still waiting for your correction on the last inaccurate post, Mr. Reporter.
ReplyDeleteAnd not buried in the responses.
The spaghetti is sticking right now.
But it needs to fall off of the wall if you have if you have any credibility.
Nice to see you acknowlege YTB as #26 on TW's Power List.
I'm sure you have hired your accounting firm to pour over the numbers.
Just HAS to be wrong!
It brings me back to inaccuracies . . . I look forward to seeing YOUR correction.
It should be taken down altogether.
Maybe you got your training at the Dan Rather School of Journalism.
YTB and TRAVEL: A Great Mix!
IT JUST CAN'T BE RIGHT!
ReplyDeleteSAY IT ISN'T SO!
MY MIND CAN'T GRASP REAL REPORTING!
WHY CAN'T WE SPIN THIS ANY MORE!
NOBODY CAN POST SOMETHING THAT I "THE GREAT AND POWERFUL" JOHN FRENAYE CAN'T SPIN!
ALL THESE UNANSWERED QUESTIONS I JUST DON'T UNDERSTAND!
WHAAAAAA! WHAAAAAAA! WHAAAAAA!
Look Dude, go grab a blinkie and cry all you want. Travel Weekly check several times to make sure the $414 was accurate. Said so themselves.
They like us are sick of the "spin".
But $414 was not reported to TW, a lesser number was. $211M. So where is the rest of it? Nobody is crying here. The other agency's have accounting programs that tell them EXACTLY how much travel was sold, what commissions were paid, what is outstanding. Why does YTB not have this? Your a travel company No? Why is it that everytime you have to post a sales number it changes? Is it 414M or 211M, and the fact that it says corporate is laughable. They wouldn't know what to do with a corporate account if it slapped them in the face. That would take customer service, which YTB is still lacking, along with basic travel knowledge.
ReplyDeleteYou are correct that TW is sick of the spin. Sick of getting incorrect information from YTB I would say, and thus had to recheck. Why? Because its an insult to the agencies on that power list who EARN THAT SPOT ACTUALLY SELLING TRAVEL. Not a website, not recruiting, not selling DVDs/trainings/magazines/cars/flowers and whatever other crap you sell on your sites, they sell travel, and from the looks of it, sell alot more then YTB will ever grasp. Keep paying your fee's, and making nothing, Coach is gonna need gas money for all his spendy cars and jet, and you suckers are the ones paying it.
Lisa,
ReplyDeleteFirst, I’m sorry about your friend.
If you and the others will actually take the time to read the TW report, and more specifically the “Introduction” you will find the following comment.
“YTB has to be singled out because it faced another year of controversy because of the structure of its business – losing IATA and Royal Caribbean accreditation. Editors checked with the company multiple times to ensure that its reported total represented only direct travel sales, not referrals or any other nonqualified revenues.”
Source:
http://travelweekly.texterity.com/travelweekly/20080623/?pg=29
I’m sorry nobody from TW called you, John, Katie, Insider, and YTBScam to converse what YOU all needed to make this a reality, but apparently, they didn’t need too. The fact that YTB made the list for the second year and TW made note that they checked the numbers “multiple times” to insure that YTB wasn’t pulling the old fast one, so I have to wonder why there are so many questions?
Could it be that none of you truly understand how YTB operates with all its RTA’s, Associations, and RezConnect affiliates?
TW is trying to tell you and everyone else here that these ARE travel numbers and the numbers reported where checked to insure that nothing underhanded was going on. So why all the fuss, crying, spin and questions?
Get over it already.
I love how I get under the RTAs skins. I didn't mention a thing and up above, there is YTBscam! I love it!
ReplyDeleteCurious as to what your "insuring"?
Kinda like "loose" eh?
It's becoming more apparent that more and more RTAs went to the school of Scott Tomer!
The question is the difference. Why reported to SEC $414M and TW gets $211M. Why are they listing business as corporate yet the numbers do not jive with being a corporate agency. ?
ReplyDeleteTravel aside, every corporation I know of knows how much comes in and how much comes out and their sales numbers. Why doesn't YTB? And, why are they paying all those attorneys and accountants that take up space in Wood River.
ReplyDeleteNo company on this planet doesn't know what they are making.
I smell a RAT.
What YTB doesn't report is that the majority of the bookings are for the personal travel of the rta's themselves. I would be a hell of a lot more impressed if they would show the number of travel sales to non-YTB members. When I report my sales for the year, I don't include my own sales. Why would I? But that's exactly where the majority of YTB sales are coming from.
ReplyDeleteWhoop-tee-doo. Again.
No Kate, you would not be impressed by the sales to non members. I, too, find it hard to believe that YTBs back office has no idea of what sales are what, who did what, or when. These RTAs might be being totally ripped off and the majority would have no idea. But as has been said here before..the YTBites have NO IDEA of what really goes on at HQ and Coach ain't going to tell them because...they DO NOT WORK for YTB.
ReplyDeleteWaiting for John Frenaye . . .
ReplyDeleteOne last chance to prove you have credibility.
Your previous post is patently wrong.
And you know it.
And you chose to leave it up for all to see.
Another example of John Frenaye spin regarding YTB.
Waiting for the journalist to correct himself.
Any wagers?
YTB and TRAVEL: A Great Mix!
When I got home last night, there was my TW in my mailbox. I read it around 9:30 and looked at the YTB figures. Now something just isn't right and it didn't take long to spot it. TW says that sales were $414 million total. ARC 29.7, $211 million travel sales by 131,101 RTAs and then they have 315 employees. That doesn't add up. If those figures are right, just the RTAs would be making $3,160 per year each. We know that isn't even close by YTB's own reportings.
ReplyDeleteNext we have the 85% business, 10% leisure, and 5% meetings and conventions. I read that 3 times in disbelief. How can YTB garner 85% of their sales from business?
So to all the ones on here that are so wise of YTB, please explain the differences. Even the most dedicated YTB person would have to question the diffences in the sales figures and then the huge 85% of bookings are from business. Will someone from YTB please explain that to me?
What an idiot. Say outdated travel boy. Buying habbits are catching up to searching habits which are on the internet. So just sit back and judge as your travel business slows to nothing.
ReplyDeleteOf course the numbers don't add up. Hell, according to Scott, you don't need a education to be in YTB!
ReplyDeleteScott was involved with Primarica before he got rid of it and it was a screwed up mess too.
ReplyDeleteActually, your the idiot boy. If you actually used the search engines like sidestep, kayak etc, you'd know that the lower fare sites are normally NOT travelocity or expedia, but airline sites themselves majority of the time. And they are definitely not give the client a YTB site to go to.
ReplyDeleteAlso, majority of agents use the internet for booking their own clients so those numbers reflect us as well. So when you wake up and actually know anything about the travel industry, come back and share.
"Editors checked with the company multiple times to ensure that its reported total represented only direct travel sales, not referrals or any other nonqualified revenues.”"
ReplyDeleteAlthough they apparently did not read the SEC filings. We can not believe anything at all in the powerlist if they only resorted to collecting data from the companies themselves. How sad.
TW is a joke. No one really takes them seriously except you RATS.
ReplyDeleteWhy the JEALOUSY? Are you TTAs disappointed that all of your underhanded attempts to derail YTB have been utter, miserable FAILURES? You should sicken yourselves when you look yourselves in the mirror. YTB is here to stay. We're going STRAIGHT to the TOP of the list! Keep watching. :)
ReplyDelete