A Utah-based “investment and business improvement” organization called M-Plus Alliance is putting together a partnership of meeting and incentive companies around the country.
Since launching in June 2020, M-Plus has taken a financial stake in seven companies, ranging from 25 percent to 49 percent ownership. These include Morris Meetings & Incentives and Morris Murdock Travel, Salt Lake City; A-Plus Meetings & Incentives, Coral Gables, Fla.; Columbus Travel Groups + Incentives, Salt Lake City; ADI Meetings & Incentives, Tempe, Ariz.; TMN Events, Boise, Idaho; and Black Pearl Luxury Services, Salt Lake City.
According to Randy Hunt, managing partner of Clearpath Strategies, which is working for M-Plus to develop the alliance, there are currently 25 companies under non-disclosure agreements as they discuss possible investment. He expects to grow the alliance to 12 companies by the end of the first quarter of 2022.
M-Plus, says Hunt, is “a service provider to these companies to help them improve their bottom lines.” Companies that join M-Plus retain their brand name but will take advantage of shared services, including marketing, vendor management, registration systems, group air ticketing, and some human resources, legal, and accounting functions. Together, the companies in the alliance—each of which will maintain its brand—currently produce more than 200,000 room nights annually for meeting and incentive travel programs, according to Hunt.
“In addition to the capital M-Plus provides to its member-owners,” says Jay Klein, owner of A-Plus Meetings & Incentives, “the resulting group intends to share services with each other, pool buying power with preferred suppliers, and provide improved and more cost-effective services.”