North America’s tourism & leisure industry sees a drop of 45.4% in deal activity in Q3 2020

18th November 2020 (Last Updated November 18th, 2020 18:45)

North America’s tourism & leisure industry sees a drop of 45.4% in deal activity in Q3 2020

North America’s tourism & leisure industry saw a drop of 45.4% in overall deal activity during Q3 2020, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 59 deals worth $5.51bn were announced for the region during Q3 2020, against the last four-quarter average of 108 deals.

Of all the deal types, M&A saw most activity in Q3 2020 with 39, representing a 66.1% share for the region.

In second place was venture financing with 13 deals, followed by private equity deals with seven transactions, respectively capturing a 22.03% and 11.9% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in North America’s tourism & leisure industry with $4.98bn, while private equity and venture financing deals totalled $379.87m and $150.22m, respectively.

North America tourism & leisure industry deals in Q3 2020: Top deals

The top five tourism & leisure deals accounted for 92.4% of the overall value during Q3 2020.

The combined value of the top five tourism & leisure deals stood at $5.08bn, against the overall value of $5.51bn recorded for the quarter.

The top five tourism & leisure industry deals of Q3 2020 tracked by GlobalData were:

1) Highgate Hotels’ $2.8bn asset transaction with Colony Capital

2) The $1.78bn merger of DMY Technology Group and Rush Street Interactive by

3) Global Emerging Markets’ $200m private equity deal with Surf Air

4) The $193.78m acquisition of Travel & Transport by Corporate Travel Management

5) L Catterton, Mayfield Fund, Michelle Wie, Mousse Partners, Paul George, Rudy Gay, Sapphire Sport, Shasta Ventures Management, Stephen Curry and Transformational Healthcare Venture Capital’s venture financing of Tonal Systems for $110m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.