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MSG Entertainment Provides Update on Construction of MSG Sphere in Las Vegas
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Madison Square Garden Entertainment : MSG Entertainment Provides Update on Construction of MSG Sphere in Las Vegas
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Hospitality and dining have been buffeted by the pandemic, weighing on deal activity. But Q4 has brought welcome refinancing support and investor confidence
The effect of the COVID-19 pandemic on the hospitality industry has been especially severe, the face-to-face nature of commercial activity in the space making it especially susceptible to social distancing and lockdown measures.
Deal volume in the broader leisure sector, which encompasses dining, hotels and hospitality, gyms and gaming groups, fell 49% while value dropped by 46% to 292 transactions worth US$39.8 billion in the first three quarters of the year. A rebound is due in the fourth quarter, however, with a number of large deals announced in October and November as investors respond positively to vaccine development news and gain confidence in a recovery.