Hospitality M&A in H1 2026: Deal Value Surges, Volume Falls
According to a KPMG report, U.S. travel, leisure, and hospitality M&A deal value reached $39.6 billion in H1 2026, up 106.8% YoY, but deal volume fell 7.6% to 402. Buyers pursued 'bigger, higher-conviction' deals, prioritizing assets with customer ownership, loyalty ecosystems, and pricing power. Fertitta's $17.6B acquisition of Caesars was the largest.