09 Dec 2020
Posted in Travel & Tourism
Travel & tourism sector witnessed 23.3% decline in deal activity during November 2020
A total of 89 deals were announced in the global travel and tourism sector during November 2020, which is a decrease of 23.3% over 116 deals announced during the previous month, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel & tourism sector has remained inconsistent since the COVID-19 outbreak. After showcasing improvement during the previous month, deal activity in the sector plummeted once again in November. The decline can be attributed to subdued activity in some of the key markets including the US, China and the UK.”
Most of the key deal types also witnessed decline. The announcement of mergers and acquisition (M&A), debt offerings, equity offerings, partnership and venture financing deals decreased during November compared to the previous month, while the number of private equity deals increased.