Rising travel M&As hit with 66.7% drop in July: GlobalData

Among the July deals tracked by GlobalData wasTwin River Worldwide Holdings acquisition of the Lady Luck Casino Vicksburg and Isle of Capri Casino Kansas City for $230 million. Photo credit: Lady Luck Casino

According to data and analytics company GlobalData, the total value of tourism and leisure industry merger and acquisition deals in July was worth $7.39 billion, a decrease of 66.7 percent from the previous month; however, it was an increase of 38.6 percent when compared with the 12-month average, which stood at $5.33 billion.

The report showed Europe held the top position, with total announced deals in the period worth $3.17 billion. At the country level, Greece topped the list in terms of deal value at $2.89 billion.

In terms of volumes, North America emerged as the top region for tourism and leisure industry M&A deals globally, followed by Europe and then Asia-Pacific, according to the report. It added the top country in terms of M&A deals activity in July was the United States with 30 deals, followed by the United Kingdom with 11 and Japan with four.

As of the end of July, tourism and leisure M&A deals worth $46.7 billion were announced worldwide for an increase of 14.6 percent year over year, according to GlobalData.

The top-five tourism and leisure industry M&A deals accounted for 77.7 percent of the overall value during July, the report noted, and the combined value of the deals was $5.74 billion against the overall value of $7.39 billion recorded for the month.

The July deals tracked by GlobalData were: Sazka Group’s $2.83 billion acquisition of Greek Organization of Football Prognostics, the $2 billion acquisition of Oravel Stays by RA Hospitality Holdings, Vail Resorts’ $463.6 million acquisition of Peak Resorts, Twin River Worldwide Holdings’ $230 million acquisition of Lady Luck Casino Vicksburg and Isle of Capri Casino Kansas City from Eldorado Resorts and VCM’s asset transaction with American Hotel Income Properties REIT for $215.5 million.