24 Jun 2020
Posted in Business Fundamentals
Travel & tourism sector witnessed 3.7% decline in deal activity during week ended June 21
The number of deals announced in the global travel and tourism sector declined by 3.7% during the week ended June 21, 2020 compared to the previous week, according to GlobalData’s deals database.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is among the worst hit due to COVID-19 and deal activity in the sector has also remained inconsistent since the outbreak. While the sector witnessed decline in deal volume during the week ended June 21, there was an increase the previous week.”
The announcement of mergers and acquisitions (M&A) and private equity deals decreased during the week, while the number of equity offering and debt offering deals increased and venture financing and partnership deal volumes remained at the same level.
Deal activity also decreased in key markets such as the US, the UK and India during the week ended June 21, 2020 compared to the previous week.