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.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:
• Cedar Capital Partners, King Street Real Estate GP and Westdale Properties’ $120m private equity deal with Shelborne South Beach Hotel
• The $118m private equity deal with Marriott International by Dimah Capital Investment and Stonebridge Companies
• 2 Chainz and Larry Fitzgerald’s $30m venture financing deal with Turo
• The $16.2m asset transaction by MCR Development
• 808 Indiana’s asset transaction with Louisville Hotel Associates for $13.5m.