US tourism & leisure industry sees a drop of 13.9% in deal activity in April 2019

24th May 2019 (Last Updated May 24th, 2019 17:29)
US tourism & leisure industry sees a drop of 13.9% in deal activity in April 2019

The US tourism & leisure industry saw a drop of 13.9% in overall deal activity during April 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 31 deals worth $1.89bn were announced in April 2019, compared to the 12-month average of 36 deals.

M&A was the leading category in the month in terms of volume with 17 deals which accounted for 54.8% of all deals.

In second place was private equity with seven deals, followed by venture financing with seven transactions, respectively accounting for 22.6% and 22.6% of overall deal activity in the country’s tourism & leisure industry during the month.

In terms of value of deals, M&A was the leading deal category in the US tourism & leisure industry with total deals worth $1.77bn, while venture financing and private equity deals totalled $100.13m and $13.4m, respectively.

US tourism & leisure industry deals in April 2019: Top deals

The top five tourism & leisure industry deals accounted for 96.4% of the overall value during April 2019.

The combined value of the top five tourism & leisure industry deals stood at $1.82bn, against the overall value of $1.89bn recorded for the month. The top announced US tourism & leisure industry deal tracked by GlobalData in April 2019 was Sonic Financial’s $837.46m stake acquisition of Speedway Motorsports.

In second place was the $745m asset transaction with Jack Entertainment by Hard Rock International and VICI Properties and in third place was Arbor Lodging Partners’ $135m asset transaction with Summit Hotel Properties.

The $56m acquisition of Great American Gaming by Maverick Gaming and Battery Ventures, Canaan Partners, Conductive Ventures, David Rogier, Dennis Wong, Michael Zeisser, New Enterprise Associates, Stanford University, SVB Capital Partners, The Dreamers Fund and Will Smith’s venture financing of KSV Services for $46m held fourth and fifth positions, respectively.

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.