Ambassadors Group

Updated on Dec 07, 2023

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Traded as NASDAQ: EPAX Subsidiaries BookRags Net income 20.3 million USD (2009) Total assets 128 million USD (2009)		Industry Educational travel Revenue 98.6 million USD (2009) Operating income 32.2 million USD (2009) Type Public company
Total equity US$91.0 million (FY 2009) Website www.ambassadorsgroup.com Headquarters Spokane, Washington, United States Founded 1967, Spokane, Washington, United States

Ambassadors Group, Inc. is a defunct publicly traded educational travel company based in Spokane, Washington. 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. The CEO is Jeffrey Thomas, whose 2009 compensation totaled over $1.7 million.

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. In 2010, the company estimated that it would serve 26,674 participants (a net decrease of 22%.)

Travelers (thousands) :

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. The merger was a friendly takeover.

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. In 2010 approximately 125 students traveled.

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.

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.

References

Ambassadors Group Wikipedia

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