Ambassadors Group

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Ambassadors Group, Inc.
Public
Traded as NASDAQEPAX
Industry Educational travel
Founded Spokane, Washington (1967)
Headquarters Spokane, Washington
Revenue IncreaseUS$98.6 million (FY 2009) [1]
IncreaseUS$32.2 million (FY 2009)[1]
IncreaseUS$20.3 million (FY 2009)[1]
Total assets IncreaseUS$128 million (FY 2009)[2]
Total equity IncreaseUS$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.[citation needed]

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[edit]

  • 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 512.[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[edit]

  1. ^ a b c Ambassadors Group (EPAX) annual SEC income statement filing via Wikinvest.
  2. ^ a b Ambassadors Group (EPAX) annual SEC balance sheet filing via Wikinvest.
  3. ^ "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. 
  4. ^ "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. 
  5. ^ "Jeffrey D. Thomas". Forbes. 2010. Retrieved 18 January 2011. 
  6. ^ "Ambassadors Group Reports Results for the Fourth Quarter and Full Year 2008". Ambassadors Group (Yahoo! Finance). 2009-02-05. Archived from the original (press release) on 2009-03-05. Retrieved 2009-03-05. 
  7. ^ "Ambassadors Group Reports Results for the third Quarter 2010". Ambassadors Group (Ambassadors Group). 2010-10-20. Archived from the original (press release) on 2010-10-21. Retrieved 2010-10-21. 
  8. ^ Ambassadors Group (EPAX) annual SEC 10K
  9. ^ "BookRags, Inc.". BusinessWeek. Archived from the original on 2009-02-23. Retrieved 2009-02-21. 
  10. ^ "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. 
  11. ^ "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. 
  12. ^ "BookRags Inc & Ambassadors Group Inc". CNNMoney.com (Time Warner). 2008-12-12. Archived from the original on 2009-02-23. Retrieved 22 February 2009. 
  13. ^ "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. 
  14. ^ "Ambassadors Group, Inc. CEO Discusses Q3 2010 Earnings - Call Transcript" (press release). Ambassadors Group (seekingalpha.com). 2010-10-21. Retrieved 2010-10-22. 
  15. ^ http://www.khq.com/story/29538835/ambassadors-group-going-out-of-business
  16. ^ "PTPI - Immersive Travel & Events". October 8, 2015. Retrieved 2015-10-19. 

External links[edit]