JYSR: Joystar's First Quarter '06 Sales Eclipse All of 2005 Gross Bookings Hit $80 Million Run-Rate
Tuesday April 18, 8:30 am ET
ALISO VIEJO, CA--(MARKET WIRE)--Apr 18, 2006 -- Joystar, Inc. (OTC BB:JYSR.OB - News), one of the nation's largest and fastest growing travel agency networks and leading seller of cruises and vacations, today announced gross travel bookings for the first 3 months of 2006 of over $17 million -- surpassing the $16.5 million in total gross bookings for the entire 2005 calendar year.
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Joystar CEO, William M. Alverson, commented, "In September of last year, Joystar announced annualized sales surpassed $30,000,000. In January of this year, sales reached $60,000,000 annualized. Then in March -- just two months later -- Joystar's sales hit an $80 million run-rate. We are all thrilled with the incredible growth the Company experienced in the first quarter. Equally impressive is the fact that 90% of our sales are in the high margin cruises and vacation package products versus low margin air bookings."
Joystar added 396 new travel agent members in the first quarter of 2006. Many of Joystar's new members were won in direct competition with other host agencies by offering a far superior value proposition and three hosting solutions designed to meet the unique and varying needs of independent travel sellers.
Alverson added, "The business of hosting professional independent travel agents is still in its infancy. It is estimated that of the approximate 125,000 professional travel agents currently working in the industry, over 50,000 will be working virtually by 2010. This group alone will control billions of dollars in leisure travel spend annually. There is also a growing number of part-time cruise and vacation sellers entering the fold. This emerging group has the potential to number over 1 million in the next decade. And, while individually they do not produce as much as a full-time agent, as a group they have the potential be just as powerful when it comes to total travel sold."
"We have invested over 8 million dollars to build the biggest and best host agency in the travel industry. Although we are very pleased with what we have accomplished since going to market in late 2004, we remain laser-focused on gaining market share and differentiating Joystar from the competition. Our strategy is to continue to invest in the technology and infrastructure that will empower the travel agent community with all of the tools, resources, and support they need to succeed. We are also aggressively recruiting the top producing travel agents in the industry which only adds to our competitive advantage over other host agencies. It's becoming increasingly difficult for our competitors to match our total value proposition."
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 its growing national sales force of virtual travel agents and online affiliates. Joystar offers comprehensive business opportunities that combine innovative technology, marketing opportunities and expert support services to the Company's independent and home-based travel agents. With Joystar, experienced and new travel agents can concentrate on promoting travel and creating client loyalty without the administrative and financial burden of owning/operating a traditional storefront travel agency. |
