Travel and Tourism sector witnesses 3.8% decline in deal activity
The number of deals announced in the global travel and tourism sector declined by 3.8% during the week ended June 28, 2020, compared to the previous week.
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. This is the second consecutive week of decline for the sector.
The announcement of venture financing, equity offering and debt offering deals decreased during the week, while the number of mergers and acquisition (M&A) deals increased and private equity and partnership deal volumes remained at the same level.
Deal activity has remained inconsistent across geographies since the COVID-19 outbreak. While deal activity decreased in key markets such as the US during the week, the UK showcased improvement.