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.
Sixty-four months into this recovery as of December 2015, the U.S. lodging cycle entered a twilight zone – an intermediate, unsettled and often confounding area that straddles the end of expansion and the beginning of contraction. Here, healthy economic trends and hospitality fundamentals unnaturally coincide
The Cyrus Hotel and Holliday Public House project – a 79-room hotel with restaurant, gardens and event space – is coming to Topeka, Kan., in an estimated $8 million development. Read The Kansas City Star story here
Pittsburgh’s Hotel Indigo has opened its doors in four buildings, including the former Governor’s Hotel. Read the Pittsburgh Tribune-Review story here
Construction of the Lago Resort and Casino in the Finger Lakes of New York was set to begin this week amid objections by some area residents who say officials failed to consider its impact on the community. Lago is scheduled to open in 2017. Read
Demand is expected to continue its record-breaking pace in the coming year, and rates will rise despite increased development, according to this hotel industry analysis. For 2016, revenue per available room is also expected to rise by 5.7%. More mergers and more dispersal of foreign
More mergers and acquisitions are in store for 2016, and private equity will reign as the funding source, several hoteliers said. LW Hospitality Advisors observed that market activity may fall below 2015 levels because of higher capital costs and other factors, while Gatehouse Capital added
New hotels under construction and in the pipeline are at their highest points since 2009, and openings will speed up over the coming two years, according to Lodging Econometrics. With 4,055 projects en route, year-over-year pipeline growth has been sustained over nine consecutive quarters, the
Nike is ramping up its direct-to-consumer sales efforts, further stressing small merchants that have seen competition grow along with the athleisure fashion trend. Nike expects its direct sales to more than double to $16 billion by 2020, and grow from about one-fifth to one-third of
Carter’s has opened a new location at Washington Square Shopping Center in Augusta, Ga. Carter’s Inc., headquartered in Atlanta, is a leading provider of apparel and related products exclusively for babies and young children. The new location opened in September and consists of approximately 8,087-square-feet.
The District of Columbia has finalized a deal to purchase for 2.9 acres of Pepco property in the district, which means it now has all the land it needs for the new D.C. United soccer stadium. The next step is site prep, including necessary environmental
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