Mexican Meetings Show Joins IBTM Portfolio

Reed Exhibitions has acquired Grupo Fidalex, a Mexican event organizer that has 15 exhibition brands in the country, it announced today, adding that one of those brands, Mexican meetings exhibition ICOMEX, will join its IBTM portfolio of incentive, business travel, and meetings industry events.

"In its short history, ICOMEX has clearly become the country's leading annual MICE gathering for the industry and we are delighted that it is now to become the eighth event in the IBTM portfolio," Sallie Coventry, director of the IBTM Events Portfolio, said in a statement.

ICOMEX 2014 is concludes today in Mexico City. The event has attracted more than 140 exhibitors and 9,000 attendees, most of who are from Mexico. Among exhibitors, 70 percent are from Mexico, 25 percent from the wider Latin American region, and 5 percent from overseas.

"Mexico has a very strong domestic and inter-regional MICE market that has been growing in importance. It is the 11th largest global economy in the region, second behind Brazil, and is also the fifth largest emerging market," Coventry continued. "Through the acquisition of ICOMEX, our objective is to consolidate the event's profile and presence within the region, whilst leveraging the benefits of the IBTM brand profile and reputation in order to expose this great show to the rest of the world. This will give the event an international presence in the meetings industry and provide new opportunities to the portfolio's global database of buyers who are looking to place or do business with the region."

Fidalex founder Philippe Surman will become country manager for Reed Mexico.

"We are excited to be a part of Reed Exhibitions," Surman said. "We have always been inspired by Reed's unmatched commitment to providing their customers with the best products and services to meet their needs and grow their business, and the opportunity for ICOMEX to become part of the IBTM portfolio adds a huge amount of strategic value to all our existing customers in the MICE sector and to those who are already part of the global community that IBTM has created."

For a recap of last week's top stories, check out MeetingNews Minute: