TL;DR

Disney expands to Abu Dhabi; Marriott trims U.S. outlook; DoorDash acquires SevenRooms for $1.2B.

Highlights

• Disney beat Q2 earnings estimates, raised its FY25 outlook, and will open its first Middle East theme park and resort in Abu Dhabi with Miral 1.
• Marriott exceeded Q1 forecasts but trimmed its 2025 room revenue growth outlook due to a slowdown in U.S. lodging demand; luxury outperformed select-service hotels 2.
• Wynn Resorts reported a year-over-year revenue decline, missed Q1 earnings estimates, and delayed $375 million in capital projects due to tariffs 3.
• DoorDash will acquire hospitality tech provider SevenRooms for $1.2 billion, expanding its software offerings to 13,000+ hospitality clients 5.
• Carnival Corporation plans a new 600,000+ sq ft Miami-Dade HQ, as PortMiami posts record cruise passenger volumes and economic impact 6.
• CoStar Group will acquire Australian real estate platform Domain Holdings for A$2.8–3 billion, pending shareholder and regulatory approval 7.
• Amazon ’s Zoox recalled 270 self-driving vehicles after a Las Vegas crash, temporarily pausing operations for a software update 8.
• REAL ID enforcement began for U.S. domestic air travel; initial airport disruption was minor, but DMV lines lengthened 4.
• Pennsylvania House advanced a bill to legalize recreational marijuana sales via state-owned stores, potentially impacting regional hospitality 9.

Commentary

Disney ’s strong quarter and its planned Abu Dhabi resort highlight continued global demand for destination entertainment and integrated resorts, particularly in growth markets outside the U.S. 1. This expansion, coupled with robust streaming and experiences revenue, positions Disney to capture a broader share of international leisure spending and may influence regional development strategies for hospitality operators 1.

Marriott’s results reinforce diverging trends in the U.S. lodging sector: luxury properties are outperforming, while select-service and mid-market hotels face weaker corporate and consumer demand 2. The trimmed full-year outlook, despite record room signings and international RevPAR gains (notably in Asia-Pacific), signals caution for U.S.-focused operators and investors 2. Wynn’s revenue decline and capex delays, driven by tariff impacts, further illustrate operational pressures, especially for companies with significant U.S. exposure or renovation pipelines 3.

M&A and tech integration remain active. DoorDash’s acquisition of SevenRooms points to increasing demand for guest engagement and commerce solutions in hospitality, with potential implications for casino F&B and hotel operations 5. CoStar’s Domain acquisition, while real estate-focused, reflects ongoing consolidation and tech investment in property and travel sectors 7. Carnival’s new Miami HQ underscores the cruise sector’s continued growth and the strategic importance of South Florida as a hospitality hub 6.

Regulatory shifts are also in focus. The rollout of REAL ID for domestic air travel has so far caused minimal airport disruption but may impact travel patterns and guest flows as compliance ramps up 4. Pennsylvania’s move toward state-run recreational marijuana sales could create new ancillary revenue streams for casinos and hospitality operators, pending legislative outcomes and regulatory details 9.

Executives should monitor U.S. demand softness, international expansion opportunities, technology adoption in guest services, and regulatory developments affecting travel and ancillary revenues.