US tourism & leisure industry sees a drop of 18.9% in deal activity in February 2020

30th March 2020 (Last Updated March 30th, 2020 10:11)

US tourism & leisure industry sees a drop of 18.9% in deal activity in February 2020

The US tourism & leisure industry saw a drop of 18.9% in overall deal activity during February 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 30 deals worth $458.86m were announced in February 2020, compared to the 12-month average of 37 deals.

M&A was the leading category in the month in terms of volume with 19 deals which accounted for 63.3% of all deals.

In second place was venture financing with seven deals, followed by private equity with four transactions, respectively accounting for 23.3% and 13.3% of overall deal activity in the country’s tourism & leisure industry during the month.

In terms of value of deals, private equity was the leading deal category in the US tourism & leisure industry with total deals worth $238m, while M&A and venture financing deals totalled $181.7m and $39.16m, respectively.

US tourism & leisure industry deals in February 2020: Top deals

The top five tourism & leisure industry deals accounted for 64.9% of the overall value during February 2020.

The combined value of the top five tourism & leisure deals stood at $297.7m, against the overall value of $458.86m recorded for the month.

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

1) Cedar Capital Partners, King Street Real Estate GP and Westdale Properties’ $120m private equity deal with Shelborne South Beach Hotel

2) The $118m private equity deal with Marriott International by Dimah Capital Investment and Stonebridge Companies

3) 2 Chainz and Larry Fitzgerald’s $30m venture financing deal with Turo

4) The $16.2m asset transaction by MCR Development

5) 808 Indiana’s asset transaction with Louisville Hotel Associates for $13.5m.

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.