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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. ....

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