The likes of Iglu.com, Big Bus Tours and Fleetway Travel have all changed hands over the past 12 months and the level of deal-making is expected to continue in 2016.
Although there was one fewer deal in 2015 than 2014, the estimated total value was higher this year, according to research by advisory firm Catalyst Corporate Finance.
There were 38 deals in 2015 made up of 10 private equity buyers, 27 trade buyers and one float. The total number was one less than 2014.
The total estimated spend was £1.3bn, versus £1.2bn in 2014.
On The Beach was the only travel company to float in 2015.
