Travel & tourism sector witnessed 3.7% decline in deal activity this week
The number of deals announced in the global travel and tourism sector declined by 3.7% during the week ended May 17, 2020, compared to the previous week, according to global deals database.
The travel and tourism sector is among the worst hit due to COVID-19, and deal activity in the sector has remained inconsistent since the outbreak. While the sector witnessed growth in the week ended May 10 2017 to 27 deals, there was a decline in deal volume last week to 26.
The announcement of equity offering and private equity deals decreased during the week, while mergers and acquisitions (M&A) and venture financing deal volumes remained at the same level.
The UK, India and China, which witnessed one deal each during the previous week, did not register even a single deal during the week ended May 17, 2020.