-
The begining
A novel business emerged to address meeting and convention planners' need for tailored group leisure activities, providing comprehensive services such as airport meet-and-greets, transportation, packaged tours, and recreational activities for groups within the local area. -
DMC définition
The term "destination management company" originated in 1972 in the U.S., attributed to Phil Lee, founder of California Leisure Consultants in 1969. It was coined to define the broader responsibilities these companies assumed as local destination and logistics experts in the realm of travel and event planning. -
The Boom
During the economic boom of the 198os, destination management companies flourished, further expanding their roles in the meeting, convention and incentive travel industry. -
Consolidation
The destination management business underwent a rapid nationwide expansion fueled by institutional investment and venture capital, leading to transformative changes through mergers, acquisitions, joint ventures, rollups, cooperative marketing agreements, and franchise opportunities. -
Financial crisis
The convergence of economic, social, and political scrutiny on corporate excess, particularly in travel and recognition events, resulted in the widespread cancellation of meetings nationwide, causing significant struggles for many DMCs and event planning companies, leading to some permanently shutting down. -
Globalization
Clients find greater efficiency by consolidating their DMC suppliers, expressing a preference for three to four national partners over 20 to 30 independent ones, while still valuing locally owned and operated DMCs.