A total of 102 deals were announced in the global travel and tourism sector during September 2020, a fall of of 11.3% on the precious month, according to GlobalData.
While deal activity decreased in markets such as the US, China and Japan, the UK showcased marginal improvement and it remained at the same level in South Korea.
Aurojyoti Bose, lead analyst at GlobalData, said: “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. After showcasing improvement for three consecutive months, deal activity in the sector plummeted once again in September.”
Most of the deal types witnessed decline in deal volume. The number of private equity, partnership, venture financing, debt offerings, and mergers and acquisition deals shrank by 41.7%, 33.3%, 15.8%, 10.5%, and 3.2% during September compared to the previous month, respectively, while equity offerings deal volume increased by 4%.