YTB To Move Into "New Digs"
An operation considered to be one of the fastest-growing Internet-based travel companies is planning to move into its $2 million headquarters in Wood River by the end of the month.
YTB International Inc., at 1 Country Club View Drive in Edwardsville, will move into its new corporate headquarters in the former Kmart building on Edwardsville Road in Wood River on Dec. 26.
"We’re really excited about it," said Andrew F. Cauthen, president and chief operations officer of the company.
The company, which is publicly traded and operates three divisions – YourTravelBiz.com, REZconnect Technologies Inc. and YTB Travel Network -- announced in July that it had purchased the 120,000-square-foot building and 13-acre site with plans to renovate them.
The announcement was made shortly after another development group said it planned to demolish the building along Illinois Route 143 to make way for a $10 million to $12 million automobile dealership complex that would have included Federico Chrysler-Dodge Inc. and Jack Schmitt of Alton Inc. (Alton Centers Nissan)
The dealerships still plan to build on land west of the property at the intersection of Route 143 and Lakin Boulevard.
Cauthen said one of the reasons the company chose Wood River is that it simply outgrew its site in Edwardsville. He said the company liked the location and could renovate the former retail site for about $40 per square foot, which is significantly less than the $200 per square foot it would cost for a new building.Work has been under way for the past several months. The company hired C.O.R.E., a project management firm, to oversee the work being done in the former restaurant of the building.
"We have a business to run and needed someone we could trust to oversee the project," Cauthen said.
He said the renovation is being done in three phases. Current renovation is considered Phase 2.
Phase 3 of the project will include building a state-of-the-art 500-seat theater and dining room in part of the 100,000-square-foot site, and Phase 4 will be transforming the remaining portion of the building.
"We cannot wait until it’s done," Cauthen said.
The building should be completed in 2008, he said.
"Right now, it still doesn’t look that different from the outside, but within the next year, it will," he said.
Cauthen said the company plans to spend an additional $10 million in renovations.
The company projects that by June 2009, it will employ nearly 600 people or more and earn $338 million in annual revenue.
J. Lloyd "Coach" Tomer, founder of the company and chairman of the board, said he is excited about moving into the company’s new digs. He said he is especially looking forward to being a part of the Wood River community.
Tomer, along with his son, Scott, and friend, J. Kim Sorenson, started the company in Alton.
In June 2001, six employees started working for the company in the former First National Bank building at Third and Belle streets. By July 2005, the company had outgrown its space and moved to Edwardsville.
"We had 39 employees when we moved," Tomer said.
During the past 18 months, the company has hired 100 people, and once it moves to Wood River, it plans to hire more.
Wood River Mayor Fred Ufert said he is excited about the company’s move, which he said adds to the growth and development that is rapidly taking place in the city.
"Having a corporate headquarters in town will be a good thing for the community," Ufert said.
He said he hopes the company’s anticipated growth will bring more development to the area.
Tomer agreed. He said that besides office personnel, 60,000 referring travel agents are part of the business, and they visit the company’s headquarters by the hundreds at a time.
The business basically allows people to start their own Internet travel business. Those who become referring travel agents earn a commission every time someone books a trip from their site.
YTB runs the booking engine. The company merged with a New Jersey company, REZconnect, several years ago to get the technology that links Web customers in real time, allowing them to make travel reservations.
YTB develops, sells and supports the online travel Web sites of referring travel agents. The initial start-up cost for a referring travel agent is $450 and a $50 monthly maintenance fee.
Customers who log on to any YTB site have the ability to make reservations on more than 424 airlines, at more than 35,000 hotels and with most major car rental companies, cruise lines and tour package operators.
Tomer said all offices would be moving to Wood River. He said one of the reasons he is excited about the move is that city officials have welcomed the company with open arms.
Ufert said he hopes that with YTB’s move to the city, it will continue to bring more businesses.
"It’s been a good year for development in Wood River, and we only hope we can continue that," he said.
Tomer said about 60,000 people will tour the home office next year and are likely to spend more than $6 million on hotels and $3 million on meals and entertainment.
"That doesn’t count our employees who leave the office for lunch, either," he said.
Tomer said he hopes his business is able to help the city bring additional businesses to town.
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