Recent weeks have seen a noted upturn in mergers and acquisitions activity, says Travel Weekly’s Lucy Huxley
The clock is ticking on the government’s first Budget at the end of the month and, according to financial experts, that is sharpening the mind of potential investors in the travel sector.
Speakers at both Travel Weekly’s Future of Travel Conference and Abta’s Travel Convention in recent weeks have noted an upturn in mergers and acquisitions activity following a post-pandemic lull.
And while projections are for a sustained period of activity, there is also a feeling that several deals could be sealed in the coming weeks to avoid complications arising from possible tax changes announced by the chancellor on October 30. The interest from investors is a further vote of confidence in the industry and follows a trend of activity in the years leading up to the Covid-enforced shutdown.
One industry executive who would have taken a particularly keen interest in those transactions was Michael East, whose death has prompted an outpouring from many whose careers he influenced over more than five decades in travel.
Michael was a founding shareholder in Travel Weekly’s parent company Jacobs Media 15 years ago, and he created, led and invested in a host of other travel businesses in a long and distinguished career. A common theme of the tributes paid since his passing is the word “gentleman” and Michael really did live up to that title, showing care and compassion to all those around him.
My thoughts and the thoughts of everyone at Travel Weekly and our sister brands are with his wife Christine and his family at this difficult time.
Comment originally from Travel Weekly, October 17 edition