Ambassadors Group
 | |
| Public | |
| Traded as | NASDAQ: EPAX |
| Industry | Educational travel |
| Founded | Spokane, Washington (1967) |
| Headquarters | Spokane, Washington |
| Revenue |
 US$98.6 million (FY 2009) [1] |
|
US$32.2 million (FY 2009)[1] | |
|
US$20.3 million (FY 2009)[1] | |
| Total assets |
US$128 million (FY 2009)[2] |
| Total equity |
US$91.0 million (FY 2009)[2] |
| Subsidiaries | BookRags |
| Website | www.ambassadorsgroup.com |
Ambassadors Group, Inc. is a defunct publicly traded educational travel company based in Spokane, Washington.[3] It was originally an operating division of Ambassadors International, Inc., but was divested into a separate corporation in 2002 to form the company under its current name.[4] The CEO is Jeffrey Thomas, whose 2009 compensation totaled over $1.7 million.[5]
This for-profit company has a close business relationship with People to People Student Ambassador Program and several other related cultural exchange groups involving students from several countries.
According to the company's end of year filings, in 2008 and 2009, Ambassadors Group served 41,929 and 34,248 travelers, respectively.[6] In 2010, the company estimated that it would serve 26,674 participants (a net decrease of 22%.[7])
Travelers (thousands) :
| years[8] | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| travelers | 15.5 | 17.1 | 25.3 | 25.8 | 21.0 | 22.7 | 30.6 | 37.8 | 43.1 | 52.7 | 41.9 | 34.2 | 26.7 |
History
- In 1956, President Dwight D. Eisenhower founded People to People.
- In 1967, Ambassadors Group is founded
- In 1995, Ambassadors Group became a wholly owned subsidiary of Ambassadors International, Inc. Jeffrey Thomas joined the company.
- In 1996, acquisition of Marc L. Bright (professionals). Jeffrey Thomas becomes President.
- In 1999, acquisition of Travel Dynamics (sport)
- In 2001, Jeffrey Thomas became CEO
- On February 28, 2002, Ambassadors Group spun off from Ambassadors International
- On May 15, 2008, Ambassadors Group bought BookRags, an educational website for $18 million.[9][10][11] The merger was a friendly takeover.[12]
- On March 17, 2009, Ambassadors Group announced its partnership with Discovery Education to become the travel provider for the new Discovery Student Adventures learning and adventure-based trips for students in grades 5–12.[13] In 2010 approximately 125 students traveled.[14]
- On April 30, 2013, Jeffey Thomas resigns from Ambassadors Group.
- On July 13, 2015 the company announced it's imminent dissolution. Ambassadors Group cites losses of over $17.5 Million in 2014 and floundering sales as causes for closing up shop at the end of this year.[15]
- On October 8, 2015, it was announced that beginning in 2016, Enriching Cultural Experiences (ECE) International will serve as the travel provider of People to People International replacing the Ambassadors Group.[16]
References
- 1 2 3 Ambassadors Group (EPAX) annual SEC income statement filing via Wikinvest.
- 1 2 Ambassadors Group (EPAX) annual SEC balance sheet filing via Wikinvest.
- ↑ "Ambassadors Group reports jump in Q2 results". Puget Sound Business Journal. American City Business Journals. 2004-07-19. Archived from the original on 2009-02-19. Retrieved 19 February 2009.
- ↑ "Ambassadors to spin off its student travel group". The Spokesman-Review. Cowles Publishing Company. 2002-01-30. Archived from the original on 2009-02-19. Retrieved 19 February 2009.
- ↑ "Jeffrey D. Thomas". Forbes. 2010. Retrieved 18 January 2011.
- ↑ "Ambassadors Group Reports Results for the Fourth Quarter and Full Year 2008" (press release). Ambassadors Group. Yahoo! Finance. 2009-02-05. Archived from the original on 2009-03-05. Retrieved 2009-03-05.
- ↑ "Ambassadors Group Reports Results for the third Quarter 2010" (press release). Ambassadors Group. Ambassadors Group. 2010-10-20. Archived (PDF) from the original on 2010-10-21. Retrieved 2010-10-21.
- ↑ Ambassadors Group (EPAX) annual SEC 10K
- ↑ "BookRags, Inc.". BusinessWeek. Archived from the original on 2009-02-23. Retrieved 2009-02-21.
- ↑ "Ambassadors Group buys BookRags for $18 million". International Business Times. Associated Press. 2008-05-21. Archived from the original on 2009-02-23. Retrieved 22 February 2009.
- ↑ "Ambassadors Group buys BookRags". Puget Sound Business Journal. American City Business Journals. 2008-05-22. Archived from the original on 2009-02-23. Retrieved 22 February 2009.
- ↑ "BookRags Inc & Ambassadors Group Inc". CNNMoney.com. Time Warner. 2008-12-12. Archived from the original on 2009-02-23. Retrieved 22 February 2009.
- ↑ "Discovery Education to Launch International Travel Program for Students and Teachers". C. Blohm. 2009-03-17. Archived from the original on 2009-03-22. Retrieved 22 March 2009.
- ↑ "Ambassadors Group, Inc. CEO Discusses Q3 2010 Earnings - Call Transcript" (press release). Ambassadors Group. seekingalpha.com. 2010-10-21. Retrieved 2010-10-22.
- ↑ http://www.khq.com/story/29538835/ambassadors-group-going-out-of-business
- ↑ "PTPI - Immersive Travel & Events". October 8, 2015. Retrieved 2015-10-19.
External links
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