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The tours, activities, and experiences sector has been an unheralded bright spot for acquisitions in the travel industry.
The deals were less interesting for their size than for what they symbolized. The companies didn’t disclose terms at a time when the pandemic had slashed valuations. Yet the transactions still suggested a revival in momentum for applying modern selling and business techniques to the fragmented tours-and-activities sector.
The deals reflect the scorch marks of the pandemic. Travel attracted only $4.1 billion of venture capital in 2020, down 55 percent from 2019 the lowest level in nearly a decade, said Skift Research.
Operator
Good morning, and welcome to the Lindblad Expeditions, Inc. fourth-quarter 2020 financial results conference call. [Operator instructions] Please note, this event is being recorded. I would now like to turn the conference over to Craig Felenstein, chief financial officer.
Please go ahead.
Chief Financial Officer
Thank you, Kate. Good morning, everyone, and thank you for joining us for Lindblad s 2020 fourth-quarter and full-year earnings call. With me on the call today is Sven Lindblad, our founder and chief executive officer. Sven will begin his opening comments, and then I will follow with some details on our financial results and liquidity before we open the call for Q&A.
LINDBLAD EXPEDITIONS HLDGS INC (LIND) Q4 2020 Earnings Call Transcript msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.