Travel and tourism sector witnesses growth in deal activity despite COVID-19

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Travel and tourism sector witnesses growth in deal activity despite COVID-19
Travel and tourism sector witnesses growth in deal activity despite COVID-19

The number of deals announced in the global travel and tourism sector increased by 21.1% during the week ended April 12, 2020 compared to the previous week, according to global deals database.

Growth in deal activity for the sector, which has been hit badly due to the COVID-19 outbreak, was due to growth in the number of debt offering deals.  

Moreover, the week also witnessed the announcement of two partnership and private equity deals each in contrast to the previous week, which did not have any announcements of such deals.

Other key deal types such as venture financing and merger and acquisitions (M&A) deals decreased by 33.3% and 37.5%, respectively, during the week ended April 12, 2020 compared to the previous week. On the other hand, equity offerings deal volume remained at the same level.

Deal activity increased in key markets such as the US and Australia.

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