Travel and Tourism Research Association
Annual Business Meeting Held at the 46th Annual International Conference
June 17, 2015 ~ Hilton, Portland, Oregon USA
2015 State of the Association
Dan Mishell, 2014-2015 ttra President, shared the following information regarding the state of the Association. From an organizational perspective, we have been diligently working to recruit and maintain our members. Our retention has increased from 57% in 2012, to 81% of membership renewing in 2014. At the end of May, we had 650 ttra members! Compare that to the same time in 2012 and we had 539 members. The ttra Board of Directors has been working to update the benefit structure and make ttra an organization that people love to be a part. If there are benefits that we do not currently offer, please be sure to share your ideas with a staff member. We listen to you, our members, and will do our best to make this Association the ONE you want to belong to!
An idea that has come out in surveys and with talking to our members is that it would be nice if the membership included the chapter dues. The ttra Board of Directors held a 2 day meeting in February with the Chapter Presidents. There were several things that were decided at that meeting.
1. All membership rates will include Chapter dues.
2. Chapter dues will be standardized across all Chapters.
3. Membership rebates to the Chapters will also be standardized.
To accomplish this goal, all membership categories (except Student) will increase by $35 starting July 1, 2015.
Organizational Memberships will increase from $600 to $635 (Additional members will remain at $200)
Premier Memberships will increase from $370 to $405
Standard Memberships will increase from $225 to $260
For example, a Premier member who is a member of a chapter currently pays $370 plus approximately $30 for Chapter dues, a total of $400. The net increase to this member will be $5. Only 25% off ttra members currently DO NOT belong to a Chapter. If you are in a location that has a Chapter, you will be added to that Chapter. If you are in a location that does not have a Chapter, and you do not wish to join a different Chapter, you will not be assigned to a Chapter.
Moving onto conference news…The ttra Annual International Conference has remained stable even with the addition of a second ttra conference, the Marketing Outlook Forum.
Conference Counts MOF Counts
Year 2013 – 304 Year 2012 – 211
Year 2014 – 312 Year 2013 - 313
Year 2015 – 314 Year 2014 – 323
Our upcoming Annual Conferences will be in Vail, Colorado in 2016 and Quebec City, Canada in 2017. Marketing Outlook Forum will be in Philadelphia, Pennsylvania for 2015 and Fort Lauderdale, Florida for 2016.
Two years ago we introduced our new Partner memberships. This category of membership continues to grow. We currently have 4 Platinum Partners (Longwoods, OAG, MMGY Global, and The Futures Company) and 1 Gold Partner (D.K. Shifflet). We appreciate these Partners for their continuing support of our Association. Please contact Kathy Palmer if your organization is interested in learning more about these partnerships and the valuable member benefits that come with partnering with ttra.
We have a new award this year (John & Joan Markham Tourism Marketing Award), established in honor of John and Joan Markham for the 30 years of dedicated service by John. The two of them have been strong supports of the Travel and Tourism Research Association. It is John’s impressive financial planning that has guided this Association through some rough times. This award will be given to an undergraduate or masters student and will include complimentary registration, paid travel expenses and a check for incidentals. The student must submit a 5 page essay and 2 recommendation letters from their professors. It is our hope to present this new award to a deserving student at the 2015 MOF in Philadelphia. If you are interested in making a donation to help fund this award, please contact Kathy Palmer.
John Markham, ttra Treasurer, shared the following 2014 Financial Statement for the Association.
1) THE YEAR 2014 ENDED WITH REVENUES OF $641,892 AND EXPENSES OF $615,793, FOR A POSITIVE NET BOTTOM LINE OF $26,099.
2) OUR TWO MAIN SOURCES OF REVENUE WERE MEMBERSHIP DUES OF $147,559 (UP FROM $123,804 THE PRIOR YEAR), AND CONFERENCE REGISTRATIONS, SPONSORSHIPS AND AWARDS $494,333, UP FROM $429,346 THE YEAR BEFORE.
3) CURRENT ASSETS AS OF DECEMBER 31, 2014 WERE $463,761, CURRENT LIABILITIES WERE $81,756, LEAVING CURRENT EQUITY $382,005. THIS IS UP FROM $356,000.
4) OUR INVESTMENT RESERVES STAND AT $314,241 AS OF DECEMBER 31, 2014, ALMOST IDENTICAL TO THE $314,809 OF DECEMBER 31, 2013.
5) ACCOUNTING WISE, OUR OUTSIDE AUDITORS, BOISVENU & COMPANY, HAVE COMPLETED AN ACCOUNTING REVIEW OF OUR BOOKS AND RECORDS AS OF MAY 20, 2015 FOR THE YEAR 2014. OUR FEDERAL TAX RETURN IS IN PROCESS.
Dan Mishell continued by informing members that the Executive Committee of the International Board of Directors meets bi-weekly via conference call to review and set the direction of ttra. The main objective of the past year has been strategic planning. Key areas of focus of the strategic clarity overview are the following:
1. Increase Membership Value
2. Grow & Diversify Our Membership
3. Strengthen the ttra Brand
4. Elevate the Efficiency and Value of our Conferences
5. Ensure Responsible Fiscal and Organization Growth
To view the 2015-2017 Strategic Clarity Overview document, please visit the ttra website here.
2015 Annual Business Meeting adjourned.