What is in this article?:
- Global Events Partners, Krisam Group File for Bankruptcy
- New DMC Consortium Formed
- The Industry Reacts
GEP and Krisam cease operations and file for bankruptcy.
The Industry Reacts
After the closing of the GEP owned and managed officers in October, Fran Rickenbach, CAE, IOM, executive vice president of the Association of Destination Marketing Executives International, responded to the story on MeetingsNet with this post: “Destination management companies have just finished a strong 3Q and are looking towards an even better 4Q 2013. ADMEI members exhibiting at IMEX America last week agree that bookings for 2014 are strong, and business already on the books for 2015 will result in increased revenues for DMCs in the next two years, both in North America and globally.”
The post goes on to say “many ADMEI members are stepping in to assist clients of the recently closed GEP owned DMCs.” Liz Keyser, DMCP, CMP, principal, AlliedPRA Northern California and ADMEI president (at that time), posted “while we respect the business decision that led to the closing of the GEP owned DMCs, we are pleased that current and future clients are enjoying the professional support of other ADMEI members to ensure that events and programs are executed without a hitch. There are long-term ADMEI member companies in each area that can provide seamless management support in this transition.”
On January 13, ADMEI announced it would hold a “meeting of representatives fromconsortia throughout the world and independent DMCs to discuss an industry response to current issues facing DMCs,” which was a result of “recent events,” according to the association. More than 40 global DMC owners met in Washington, D.C., February 6 during ADMEI’s annual meeting.
Jennifer Patino, DMCP, CEO of Hosts Global and current ADMEI president, released this statement after the meeting: “As an international not-for-profit trade association, ADMEI has a long history of defining, protecting, and promoting the destination management industry. In fulfilling its mission, ADMEI is committed to preserving the integrity of the destination management industry for both internal and external stakeholders. As the result of the meeting, even more stringent requirements for accredited destination management companies will be established based on the recommendations of a newly formed task force.”
The association accredits DMCs through its Destination Management Company Accreditation program, which is designed to “elevate professional standards and designate firms that demonstrate advanced knowledge and experience essential to the practice of destination management.”