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.

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:

• Highgate Hotels’ $2.8bn asset transaction with Colony Capital
• The $1.78bn merger of DMY Technology Group and Rush Street Interactive by
• Global Emerging Markets’ $200m private equity deal with Surf Air
• The $193.78m acquisition of Travel & Transport by Corporate Travel Management
• 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.