The US tourism & leisure industry saw a drop of 10.8% in overall deal activity during March 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 33 deals worth $691.94m were announced in March 2019, compared to the 12-month average of 37 deals.
M&A was the leading category in the month in terms of volume with 20 deals which accounted for 60.6% of all deals.
In second place was venture financing with ten deals, followed by private equity with three transactions, respectively accounting for 30.3% and 9.1% 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 $656.8m, while private equity financing deals totalled $35.14m .
US tourism & leisure industry deals in March 2019: Top deals
The top five tourism & leisure industry deals accounted for 75.8% of the overall value during March 2019.
The combined value of the top five tourism & leisure industry deals stood at $524.4m, against the overall value of $691.94m recorded for the month. The top announced US tourism & leisure industry deal tracked by GlobalData in March 2019 was Alan Kestenbaum, Doug Hertz and Ron Canakaris’ $300m acquisition of ATLANTA FALCONS FOOTBALL CLUB.
In second place was the $85.7m asset transaction with 353-key Marriott Mission Valley by Driftwood Acquisitions and Development and in third place was Wurzak Hotel Group’s $62m asset transaction with Renaissance Fort Lauderdale Cruise Port Hotel.
The $45m acquisition of Vegas.com by VDC-MGG Holdings and Apple Hospitality REIT’s asset transaction with Vista Host for $31.7m 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.