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North America’s tourism & leisure industry sees 45.4% drop in Q3 2020

North America’s tourism & leisure industry sees 45.4% drop in Q3 2020
North America's tourism & leisure industry sees 45.4% drop in Q3 2020
Written by Harry S. Johnson

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.

A total of 59 deals worth $5.51 billion 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 $4.98 billion, while private equity and venture financing deals totaled $379.87 million and $150.22 million, 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 $5.08 billion, against the overall value of $5.51 billion recorded for the quarter.

The top five tourism & leisure industry deals of Q3 2020 were:

  • Highgate Hotels’ $2.8 billion asset transaction with Colony Capital
  • The $1.78 billion merger of DMY Technology Group and Rush Street Interactive by
  • Global Emerging Markets’ $200 million private equity deal with Surf Air
  • The $193.78 million 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 $110 million.