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.

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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.

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