Deals in Travel, Leisure, and Hospitality fell dramatically in the second quarter, by 25.6 percent in total numbers and 76.7 percent in deal value.
Both subsectors lost about the same amount of business, but the Travel subsector took the worst hit in percentage terms. Deal value fell from $16.6 billion to $6.3 billion in Leisure and Hospitality in the second quarter, and from $12.3 billion to $0.5 billion in Travel in the second quarter.
Nor did SPAC and PE deals offer much in the way of encouragement. SPACs almost hit the tarmac, falling from $19.8 million in Q1 to $5.6 million in Q2, and private equity fell, too, from $8.4 billion to $1.1 billion.
