The Terramar DMC team in Los Cabos Photo Credit: Terramar DMC
Terramar DMC is leveraging its more than 30 years of destination expertise for its next phase as an independent destination management company. The DMC, which directly serves the United States, Mexico and Central America, is departing the DMC Network and realigning its executive team to prepare for growth.
According to Terramar execs, the move positions the company to pursue new opportunities and grow partnerships in destinations based on local expertise and personalized service. The independent approach will emphasize these relationships, service and autonomy, in an industry sector where DMC ownership and consolidation increasingly involves reporting to a finance-driven board. The company left the network on very good terms, according to execs, and is simply adjusting its strategic approach.
"We're one of the founding members of the network and also have been the largest piece of the consortium since its inception," noted Terramar executive Kate Patay. "So it's just evolving our business model to be able to grow. It's not closing a door; it's opening new doors."
By becoming independent, Terramar will have the opportunity to receive leads from multiple consortia, while members of a network are restricted to doing business with those in the network.
Realigning executive leadership
Sunny Irvine has transitioned into the role of president and owner of Terramar DMC, and he now has a dedicated executive team to help guide strategy and growth for the organization.
Matt Cuevas has been named CEO and now has responsibility for the company's overall strategic direction, financial stewardship, performance and long-term growth.
Lisa DeLeon is now chief commercial officer and will lead the integration of commercial strategy, sales, business development and operational execution across all of the company's destinations.
- Kate Patay has been named chief experience officer, a newly established executive position that builds on her existing role across brand strategy, industry engagement, communications, organizational culture and the overall experience provided by the DMC.
The executive leadership team has been created to combine complementary expertise across all of the above facets, designed to strengthen overall collaboration and empower Terramar's local teams.
"This is an exciting and intentional evolution for Terramar," said Irvine. "We've spent more than three decades building a company grounded in extraordinary people, trusted relationships and a genuine commitment to our clients. As our industry continues to evolve, so must the way we position ourselves for the future. I have tremendous confidence in Matt, Lisa and Kate to lead Terramar DMC into its next chapter while preserving the values and service philosophy that have always set us apart."
Forging a new approach
"The future of destination management isn't defined solely by where we operate, but by how
we differentiate ourselves in every market we serve," said Patay. "Experience is a powerful business strategy. When we align our brand, our people and our partnerships around a shared vision, we create greater value for our clients and meaningful opportunities for growth."
As the DMC sector continues to consolidate, Terramar is counting on growth by challenging the models that have been successful to this point. The company seeks to maintain a degree of autonomy even as many DMCs are being gobbled up. "It's exciting that we get to forge a path forward and be different," Patay said. "There's so much that's evolving in our industry, it's important to blaze a path forward, and this is the evolution of what we've been doing."
Terramar is actively looking at partnership opportunities in new markets and will be soon be sharing market-expansion news.