Published on : Friday, May 29, 2020
According to global deals database, the number of deals announced in the global travel and tourism sector declined by 3.7% during the week ended May 17, 2020 as compared to the previous week.
Due to COVID-19, the travel and tourism sector is among the worst hit and deal activity in the sector has remained inconsistent since the outbreak. While the sector witnessed growth in the week ended May 10 2017 to 27 deals, there was a decline in deal volume last week to 26.
During the week, the announcement of equity offering and private equity deals decreased, while mergers and acquisitions (M&A) and venture financing deal volumes remained at the same level.
The week ended May 17, 2020 did not register a single deal while the UK, India and China witnessed one deal each during the previous week.