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US tourism and leisure industry sees a drop

The US tourism and leisure industry saw a drop of 7.7 per cent in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

A total of 36 deals worth $7.12bn were announced in September 2019, compared to the 12-month average of 39 deals.

M&A was the leading category in the month in terms of volume with 26 deals which accounted for 72.2 per cent of all deals.

In second place was venture financing with eight deals, followed by private equity with two transactions, respectively accounting for 22.2 per cent and 5.6 per cent 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 $5.8bn, while M&A and venture financing deals totaled $1.23bn and $85.35m, respectively.

The top five tourism and leisure industry deals accounted for 92.3 per cent of the overall value during September 2019.

The combined value of the top five tourism & leisure deals stood at $6.57bn, against the overall value of $7.12bn recorded for the month.

The top five tourism & leisure industry deals of September 2019 tracked by GlobalData were:

  1. Mirae Asset Global Investments’ $5.8bn private equity deal with Anbang Insurance Group
  2. The $516.3m asset transaction with Caesars Entertainment by Imperial Companies
  3. Kinepolis Group’s $152.25m acquisition of MJR Theatres
  4. The $63.5m asset transaction with Hilton Worldwide Holdings by Suffolk University
  5. Miami Southern Hotels’ asset transaction with Stambul USA for $37m.
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