US tourism & leisure industry sees 18.9% drop in deal activity
The US tourism & leisure industry saw a drop of 18.9% in overall deal activity during February 2020, when compared with the last 12-month average.
A total of 30 deals worth $458.86 million were announced in February 2020, compared to the 12-month average of 37 deals.
M&A was the leading category in the month in terms of volume with 19 deals which accounted for 63.3% of all deals.
In second place was venture financing with seven deals, followed by private equity with four transactions, respectively accounting for 23.3% and 13.3% of overall deal activity in the country’s tourism & leisure industry during the month.
In terms of value of deals, private equity was the leading deal category in the US tourism & leisure industry with total deals worth $238 million, while M&A and venture financing deals totaled $181.7 million and $39.16 million, respectively.
US tourism & leisure industry deals in February 2020: Top deals
The top five tourism & leisure industry deals accounted for 64.9% of the overall value during February 2020.
The combined value of the top five tourism & leisure deals stood at $297.7 million, against the overall value of $458.86 million recorded for the month.
The top five tourism & leisure industry deals of February 2020 were:
- Cedar Capital Partners, King Street Real Estate GP and Westdale Properties’ $120 million private equity deal with Shelborne South Beach Hotel
- The $118 million private equity deal with Marriott International by Dimah Capital Investment and Stonebridge Companies
- 2 Chainz and Larry Fitzgerald’s $30 million venture financing deal with Turo
- The $16.2 million asset transaction by MCR Development
- 808 Indiana’s asset transaction with Louisville Hotel Associates for $13.5 million.