|
|
|
.
Offerings and M&A Activity Will Occur in 2004 |
March 2004 - PricewaterhouseCoopers estimates
that the pace of Initial Public Offerings (IPOs), public equity raised
and Mergers & Acquisitions (M&As) will increase significantly in
2004.
IPOs (Intial Public Offerings) PricewaterhouseCoopers estimates that in 2004 the U.S. lodging industry IPO activity will be the highest since 1996, when there were 12 public offerings, and $1.06 billion raised. PricewaterhouseCoopers estimates that there will be four to seven IPOs, including several REITs. Secondary Offerings PricewaterhouseCoopers estimates that in 2004 total public equity raised will be the greatest since 1997, when there were 29 offerings that raised $3.7 billion. PricewaterhouseCoopers estimates that there will be as many as ten or more secondary offerings with the total raised likely to exceed $3.0 billion. Mergers & Acquisitions PricewaterhouseCoopers estimates that in 2004 M&A activity will be the highest since 1999, when there were 11 major transactions. PricewaterhouseCoopers estimates there will be five to ten major transactions. The peak was in 1998 when there were 25 transactions. The IPO equity, and M&A activity is supported by:
These forecasts are based on discussion with PricewaterhouseCoopers lodging clients and institutional investors. The estimates are provided to express an order of magnitude rather than point forecasts. PricewaterhouseCoopers (www.pwc.com) is the world�s largest professional services organization. Drawing on the knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing services based on quality and integrity. |
Contact:
PricewaterhouseCoopers
|