The report below gives a good overview of the fourth quarter M&A activity in the Hospitality and Leisure Industry Sector. M&A activity for North American based target companies in the Wholesale and Distribution sector for Q3 2019 included 75 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions in the sector was announced in July when Vail Resorts, Inc. acquired Peak Resorts, Inc. for US$167.5 million in cash. Vail Resorts is a holding company that engages in the operation of mountain resorts. Peak Resorts engages in resort operations. It offers activities, services and amenities including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking. The company was founded in 1997 and is headquartered in Wildwood, MO.
- Total US consumer spending, an indicator of casino and hotel spending, rose 1.4%, primarily from services expenditures, in June 2019 compared to the same month in 2018.
- US personal income, which drives consumer spending on lodging and gambling, rose 4.9% in June 2019 compared to the same month in 2018.
- Total US revenue for travel arrangement and reservation services has risen 3.1% in 2019 compared to the previous year.
Posted by David Hulett.