Global travel M&A surpasses pre-pandemic levels

Among categories, hospitality is the most trending category with 149 deals compared with 125 deals in the pre-pandemic period

Nov 16, 2023

Paris-based Cambon Partners' newly released Travel M&A Database, covering the period from 2014 to 3Q23, has revealed a significant uptick in M&A activity, with 423 deals occurring between 2022 and 3Q23, surpassing the pre-pandemic levels of 389 deals from 2018 to 3Q19.

Key takeaways

  • Europe and North America emerge as the primary hotspots, jointly accounting for 80% of the total M&A activity during the decade-long period;
  • Of the 1,758 travel companies sold, valuations were available for 382 deals, reaching an impressive total value of US$212 billion;
  • The post-pandemic era has witnessed a surge in M&A activity, with 423 companies changing hands since 2022, reflecting a robust recovery compared to the 389 deals in the pre-pandemic period of 2018 to 3Q19.

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