The agreement will be in effect for seven years, with the option to renew for an additional three years.
The contract will see SMG developing operational plans, recruiting and training staff, and developing sales, marketing, and promotional programmes in collaboration with the Jamaica Tourist Board.
SMG will also be responsible for event management for the new convention centre.
The Montego Bay Convention Centre was constructed by the UDC through the China National Complete Plant Import Export Corporation.
The centre opened on 7 January, ahead of the first event, the Caribbean Market Place scheduled for 16-18 January.
Montego Bay Convention Centre has named Dittie Guise as its general manager.