Published: February 01, 2007
Joystar's Travel Bookings Surpass $140 Million Run-Rate
Over 300 New Members Join Its Travel Agency Network in January
Joystar, Inc. (OTCBB: JYSR), one of the
nation's largest and fastest growing travel agency networks and leading
seller of cruises, vacations, and group travel today announced the
Company's sales have surpassed $140 million annualized.
William M. Alverson, CEO of Joystar commented, "We are experiencing
staggering increases in terms of both travel bookings and growth of our
agency network during the first weeks of 2007. High-margin cruises and
vacation packages continue to represent 90% of our sales. The most dramatic
change has been the increase in the leisure group travel segment which now
represents 30% of all bookings. Additionally, we added 308 new members to
our network in January setting a record for new agents in one month."
Much of the growth in bookings stems from Joystar's ability to attract a
much higher caliber of agency member. "In 2005, we were thrilled to have
one $1 million/yr. producer. Now, we are able to provide a compelling value
proposition to established travel agencies with millions of dollars in
annual sales. Given the fact we are reaching a tipping point in the
home-based agency model, we expect this trend to continue," added Alverson.
To attract the industry's top producing travel sellers and to promote the
Company's Enterprise program for travel agency owners with their own sales
forces and small and mid-size host agencies, Joystar made several
enhancements to its technology offerings and service capabilities. Major
2006 initiatives included:
-- Starbase, a private label version of the industry's most popular CRM
software, TRAMS ClientBase.
-- VacationCompare.com, "Request Quotes. Compare Offers. Save Big," an
online travel marketplace that matches leisure travelers to the agencies in
its network.
-- A $2 million Errors & Omissions insurance policy covering its
Independent Contactors at no cost.
According to Credit Suisse/First Boston the number of professional
home-based travel agents is expected to grow from an estimated 25,000 in
2006 to 50,000 agents in 2010. Other industry studies estimate this
rapidly emerging virtual (home-based) travel agency model currently
represents $7.6 billion in travel sales annually.
Although bookings do not constitute revenue or income under generally
accepted accounting principles, the Company feels that the growth in
bookings is increasingly an indication of the consumer buying its travel
agent network is capable of generating.
About Joystar
Joystar is the one of the nation's largest and fastest-growing leisure
travel agency networks and a leading seller of cruises and vacations. The
Company sells complex travel products including cruises, vacation packages
and group travel through www.VacationCompare.com and its growing virtual
sales force of travel agents.
"Forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995 may be included in this news release. These
statements relate to future events or our future financial performance.
These statements are only predictions and may differ materially from actual
future events or results. Joystar, Inc. disclaims any intention or
obligation to revise any forward-looking statements whether as a result of
new information, future developments or otherwise. Please refer to the
documents filed by Joystar, Inc. with the Securities and Exchange
Commission, which identify important risk factors that could cause actual
results to differ from those contained in forward-looking statements,
including, but not limited to risks associated with our ability to (i)
increase revenues, (ii) obtain profitability, and (iii) obtain additional
financing, changes in general economic and business conditions (including
in the online business and financial information industry), actions of our
competitors, the extent to which we are able to develop new services and
markets for our services, risks in connection with acquisitions, the time
and expense involved in such development activities, the level of demand
and market acceptance of our services and changes in our business
strategies.
Additionally, forward-looking statements concerning the performance of the
travel and leisure industry are based on current market conditions and
risks, which may change as the result of certain regulatory, political or
economic events, a shift in consumer travel preferences, as well as those
risks and uncertainties described in the Company's filings with the
Securities and Exchange Commission, which could cause actual events or
results to differ materially from the events described in the
forward-looking statements, whether as a result of new information, future
events or otherwise. Readers are cautioned not to place undue reliance on
these forward-looking statements.
Copyright © 2012, MarketWire
Copyright © 2012, NewsBlaze,
Daily News