Host travel agency InteleTravel has acquired global events agency McVeigh Global Meetings & Events, the company announced.
The acquisition—for which the financials were not disclosed—follows InteleTravel's acquisition of corporate travel consortium Hickory Global Partners last year. As with Hickory, MGME will remain an independent brand wholly owned by InteleTravel, but the agencies will deploy cross-efficiencies across all three businesses, according to the company.
In Hickory's case, for example, it will be able to provide air fulfillment for MGME events via its contact center business, Hickory Solutions365, which it launched last year. MGME annually produces about 1,000 events and conferences across 70 countries valued at about $500 million in annual spending, so it could be a "significant source of revenue" to Hickory, according to the consortia. Hickory agency and corporate travel department members, meanwhile, will be able to offer clients MGME's meeting planning and production services.
"This will allow our members and partners to have full access to top-to-bottom world-class event planning and coordination without having to engage with multiple vendors," Hickory president Chris Dane said in a statement. "With our services, like Hickory Solutions365 for staffing air and registration overflow, MGME’s added volume for key suppliers, and new sources of business all around, it’s a natural fit and a game changer."
MGME and its clients also will have access to InteleTravel's booking technology and automation, according to the company. All three companies will be able to consolidate some supplier contracts, including air, car and hotel, with MGME booking more than 100,000 room nights each year.
"The MICE market is predicted to double to over a trillion dollars by the end of the decade," according to InteleTravel president and cofounder James Ferrara. "Getting behind a leader like MGME makes sense, while being able to represent top quality event and exhibition offerings is a strong competitive advantage for both Hickory members and InteleTravel advisors."