Posted by Liz Holtby, Vice President, Operations, Meeting Escrow Inc.
I came across this article recently, “Mergers and acquisitions among top trends for 2021, says HBAA”, https://mitmagazine.co.uk/news/mergers-and-acquisitions-among-top-trends-for-2021-says-hbaa/?oly_enc_id=0551D4976423D3E, which I found particularly relevant given event industry suppliers are experiencing the most significant liquidity crisis ever. Mergers between hotel chains, DMCs and other meetings and incentive suppliers could be a foreseeable reality to stay alive in this economic environment.
M&A provides opportunities for vendors to expand their service offerings while receiving additional financial backing allowing both parties to participate in the kick start recovery playing field.
As outlined in this article, “our people continue to be our biggest asset,” suggesting that there is hope for a full and successful return to in-person events. However, joint ventures and partnerships can result in uneasiness for clients, so how do they plan for the future?
Although Grant Snider established Meeting Escrow (escrow financial trust solutions for incentive programs, meetings and events) in 2015 well before the COVID-19 pandemic, its solutions are designed to reassure organizations during times of uncertainty by minimizing risk.
In referencing this 2021 trend, Meeting Escrow’s “Escrow Trust Addendum” outlines that “a change of ownership” (as would be the case with and M&A) is one of the provisions in the agreement to protect clients should this happen.
For more details on Meeting Escrow’s Solutions or learn more about the Escrow Trust Addendum, please contact firstname.lastname@example.org.