Europe’s tourism and leisure industry saw a drop of 53.1% in overall deal activity during the second quarter of this year when compared to the four-quarter average, according to GlobalData’s deals database.

A total of 53 deals worth USD 2.81 billion were announced for the region during Q2 2020, against the last four-quarter average of 113 deals. Of all the deal types, mergers and acquisitions (M&A) saw most activity with 35, representing a 66.04% share for the region. In second place was venture financing with 12 deals, followed by private equity deals with six transactions, respectively capturing a 22.6% and 11.3% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in Europe’s tourism and leisure industry with USD 2.64 billion, while private equity and venture financing deals totalled USD 128.67 million and USD 42.26 million, respectively.

The top five tourism and leisure deals accounted for 95.6% of the overall value during Q2 2020. The combined value of the top five tourism and leisure deals stood at USD 2.69 billion, against the overall value of USD 2.81 billion recorded for the quarter.