A total 27 deals were announced in the global travel and tourism sector during the week ended June 14, 2020, which is an improvement over the 19 deals announced during the previous week, according to global deals database.
The travel and tourism sector is among the worst hit by COVID-19 due to travel restrictions and lockdowns. However, the growth during this week marks the second consecutive week of growth in deal activity, which could be a positive sign.
Equity offering and private equity deal announcements increased during the week, while mergers and acquisitions (M&A) deal volume remained at the same level and venture financing and debt offerings deal volume declined.
Deal activity has also remained inconsistent across geographies since the COVID-19 outbreak. While deal activity increased in the US, the UK and Australia during the week ended June 14 compared to the previous week, China witnessed decline and it remained at the same level in India.