North American deal making drops by more than half

TD Editor

Data analysts GlobalData has published new findings that show North America’s tourism & leisure industry has witnessed a dramatic drop of 52% in deal activity, compared with the same period last year.

The firm’s deals database recorded that a total of 60 deals valued at USD3.3bn were announced for the region during Q2 2020, against the last four-quarter average of 125 deals. Of all the deal types, M&A saw the most activity in Q2 2020 with 36, representing a 60% share for the region.

In second place was venture financing with 20 deals, followed by private equity deals with four transactions, respectively capturing a 33.3% and 6.7% share of the overall deal activity for the quarter.

In terms of value of deals, private equity was the leading category in North America’s tourism & leisure industry with USD2.25bn, while venture financing and M&A deals totalled USD666.95m and USD387.67m, respectively.

North America tourism & leisure industry deals in Q2 2020: 

The top five tourism & leisure deals accounted for 88.7% of the overall value during Q2 2020.

The combined value of the top five tourism & leisure deals stood at $2.93bn, against the overall value of $3.3bn recorded for the quarter.

The top five tourism & leisure industry deals of Q2 2020 tracked by GlobalData were:

  • Apollo Global Management and Silver Lake Partners’ USD1.2bn private equity deal with Expedia Group
  • The USD1bn private equity deal with Airbnb by Silver Lake Management and TPG Sixth Street Partners
  • Broadscale Group, Ervington Investments- Cyprus, Exor International, 83North Venture Capital, Hearst Ventures, Macquarie Capital (Europe), Mori Trust, Pitango Growth, Planven Investments, RiverPark Ventures and Shell Ventures’ USD400m venture financing of Via Transportation
  • The USD170m venture financing of sonder by Atreides Management, Fidelity Investments, Greenoaks Capital Management, Greylock Partners, iNovia Capital, Lennar, Spark Capital, Tao Capital Partners, Valor Equity Management and Westcap Mgt.
  • Twin River Worldwide Holdings’ asset transaction with Eldorado Resorts for USD155m.
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