War, Fuel Prices Seen Steering Travel Industry Toward M&A

War in Iran and higher oil prices can be expected to keep tourists closer to home, disrupting the travel and hospitality industry and potentially spurring dealmaking.

“I think if you’re looking today you can’t avoid geopolitical risk and the impact of the world’s economy of what’s happening at this moment in time,” Jonathan Goldstein, chief executive officer of the investment firm Cain, said Wednesday on the Bloomberg Deals TV show.

While he expects the Gulf states to prove their economic resilience as the conflict eases, potential inflation and a possible return to a higher-interest-rate environment have to be ...