Purpose Meetings, incentives, conventions/conferences and exhibitions (MICE) tourism is a segment of business travel, which is experiencing a process of disintermediation. Using the value chain concept, this study aims to analyze the role and value of intermediaries in the MICE value chain. As the interests and perceptions of stakeholders are different, the authors also study if there is consensus or dissonance in their opinion. Design/methodology/approach This study uses mixed methods. First, by means of interviews with MICE professionals to identify the research variables and validate the test sample and questionnaire. Then, an international survey, which uses logistic regressions to identify the variables that support value. The post-hoc ANOVA test identifies the differences of opinions and determines the existence of consensus or dissonance. Findings Incoming agents create value by means of convenience and good rates and outbound agents by trust. The incoming agent is more valued and enjoys a position of power and therefore has more chances of remaining active in the market. However, there is no consensus about the role of intermediaries, hotels being the most dissonant stakeholder. Originality/value Instead of focusing on the negative aspects of disintermediation, this study uses a multifaceted perspective to identify the reasons that lead to value creation by intermediaries. This is vital for MICE stakeholders to acknowledge disintermediation and act consequently. Conclusions can also provide valuable guidance for intermediaries in other business to business interactions to better understand their value, competitive advantages and position of power.