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North America’s tourism and leisure industry sees a drop of 52% in deal activity in Q2 2020

Nhlanhla Ngwenya by Nhlanhla Ngwenya
August 12, 2020
in Travel, World Travel
2 min read
0
North America’s tourism and leisure industry sees a drop of 52% in deal activity in Q2 2020

North America’s tourism and leisure industry saw a drop of 52% in overall deal activity during the second quarter of 2020 (Q2 2020), when compared to the four-quarter average, according to Global Data’s deals database.

A total of 60 deals worth $3.3bn were announced for the region during Q2 2020, against the last four-quarter average of 125 deals.

Of all the deal types, M&A saw most activity in Q2 2020 with 36, representing a 60% share for the region.

In second place was venture financing with 20 deals, followed by private equity deals with four transactions, respectively capturing a 33.3% and 6.7% share of the overall deal activity for the quarter.

In terms of value of deals, private equity was the leading category in North America’s tourism & leisure industry with $2.25bn, while venture financing and M&A deals totalled $666.95m and $387.67m, respectively.

North America tourism & leisure industry deals in Q2 2020:

The top five tourism and leisure deals accounted for 88.7% of the overall value during Q2 2020.

The combined value of the top five tourism & leisure deals stood at $2.93bn, against the overall value of $3.3bn recorded for the quarter.

The top five tourism & leisure industry deals of Q2 2020 tracked by Global Data were:

  • Apollo Global Management and Silver Lake Partners’ $1.2bn private equity deal with Expedia Group
  • The $1bn private equity deal with Airbnb by Silver Lake Management and TPG Sixth Street Partners
  • Broadscale Group, Ervington Investments- Cyprus, Exor International, 83North Venture Capital, Hearst Ventures, Macquarie Capital (Europe), Mori Trust, Pitango Growth, Planven Investments, RiverPark Ventures and Shell Ventures’ $400m venture financing of Via Transportation
  • The $170m venture financing of sonder by Atreides Management, Fidelity Investments, Greenoaks Capital Management, Greylock Partners, iNovia Capital, Lennar, Spark Capital, Tao Capital Partners, Valor Equity Management and Westcap Mgt.
  • Twin River Worldwide Holdings’ asset transaction with Eldorado Resorts for $155m.
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