Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
AccorHotels plans to sell a majority stake in its property unit, HotelInvest, after positioning it as a separate legal entity. Accor said it would pursue a more aggressive growth strategy with the resulting cash, which could be $7.75 billion. Read the Skift/Bloomberg story here
See why new brands and increasing financing options are fueling a strong pipeline of new hotel rooms in major markets. Read the 4Hoteliers/HVS story here
The $10 million renovation of the South Shore Harbour Resort & Conference Center in Houston’s Bay Area – its first complete makeover since opening in 1988 – features “particularly impressive” bi-level penthouse suites with “massive” bathrooms and marbled walls. Read the Houston Chronicle story here
A public-private partnership between Melbourne, Fla., and a developer will result in a 120-room hotel aimed at Millennials. Read the Florida Today story here
The iconic bungalows at The Beverly Hills Hotel in California are undergoing an overhaul. Champalimaud Design is overseeing the project. Read the Luxury Travel Magazine story here
The construction of a $35 million Hyatt Place hotel in Niagara Falls is being hailed as a sign of economic revitalization in western New York. One of the biggest projects in Niagara Falls in more than four decades, it reflects the city’s economic focus. Read
Shopko, a Wisconsin-based retailer with 363 stores in 24 states, has been squeezing the size of its stores for more than a decade, opening small-town locations that are typically about one-third the size of big-box stores. Read the NRF story here
Construction starts were up 4% in June and are up 11.2% for the first six months of 2016 compared with the same time period last year, according to ConstructConnect. Institutional and commercial starts have led the way. Read the Construction Dive story here
Hotel real estate investment trusts have healthy fundamentals and dividends that can provide a cushion in a market downturn. Competing sectors that match this profile, such as utilities and consumer staples, are well into their stock rallies, while hotel stocks are not. Read the Barron’s
Kimpton Hotels & Restaurants Group is on track for a 2017 opening in Amsterdam, where it will renovate the Crowne Plaza Amsterdam City Centre into a 270-room luxury boutique property. Read the TravelMole story here
Sign up for our eblasts to get updated information, news and opportunities.
Always stay two steps ahead of your Competitors. Stay informed with the latest in the Industry.
This site uses cookies to ensure that you get the best user experience. By choosing “Accept” you acknowledge this and that ccr-mag.com operates under the Fair Use Act. Furthermore, Changing privacy laws now require website visitors from EEA based countries to provide consent in order to use personalized advertising or data modeling with either Google Ads & Analytics. Find out more on the Privacy Policy & Terms of Use Page