YTB sells RezConnect to executives

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YTB International sold its RezConnect Technologies subsidiary to Michael and Derek Brent, RezConnect's CEO and president, respectively.

According to a Securities and Exchange Commission filing on July 7, terms of the sale included an "indemnification of the Brents by YTB of any claims, losses and liabilities arising out of or in any way relating to the operations and business of YTB."

YTB agreed to "represent the Brents in any legal action that has occurred directly from actions of YTB business model in which the Brents and/or RezConnect have been sued by any third party."

RezConnect is a New Jersey-based travel technology company that powers booking engines for travel agency websites. It sold technology to YTB in YTB’s formative years.

RezConnect also owns the Travel Network franchise business.

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