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.
Colorado-based burger chain Red Robin Gourmet Burgers Inc. has planted its second prototype Burger Works location in the District near Washington Circle. Read the American City Business Journals/Washington, D.C. story here
Fitch Ratings expects 6 percent growth in hotel revenue per available room this year as a result of strong demand and limited new supply. Occupancy will rise 1 percent and average daily rates will rise 5 percent, the firm said. Lodging Econometrics sees growth in
Red Robin Gourmet Burgers Inc. has planted its second prototype Burger Works location in the District near Washington Circle. Read the American City Business Journals/Washington, D.C. story here
Wells Fargo is providing a $125 million loan to Chesapeake Lodging Trust for the acquisition of The Royal Palm-Miami South Beach in Florida. The property, which will be reflagged with Starwood Hotels & Resorts, was purchased for $278 million. Read the GlobeSt.com story here
NextDecade wants to spend $8 billion to expand a liquefied natural gas terminal in Texas from 500 acres to 1,000 acres as part of an option-to-lease agreement with the Port of Brownsville. At the same time, the company wants to build a $6 billion facility
Half of Lightstone Group‘s $2 billion investment to develop select-service hotels across the United States will be used to open six properties under Moxy, Marriott International‘s new millennial-focused brand, in 2017. Company officials said they are confident Moxy’s focus on the millennial segment will help
More asset purchases in high-growth markets are ahead for RLJ Lodging Trust, which freed itself of 18 non-strategic properties and added 15 new hotels in 2014. Read the HotelNewsNow.com story here
A $1 billion expansion project for the Orlando, Fla., airport is underway that will include $211 million for a train depot and $118 million for a parking garage and “enhancements.” The lobby will also be renovated and a people-mover installed, with the project slated for
A $70 million condo hotel high-rise is being proposed for International Drive near SeaWorld Orlando. United Kingdom developer George Houghton has joined forces with Miami investor Charles Newman to build a new 11-story condo hotel project with commercial space and a parking garage on the
Value Place has partnered with Pure Strike Development LP and CAMTOD Group to build the first Value Place hotel in San Angelo, Texas. The property, which will be located at 4013 W Houston-Harte Expressway, broke ground in February. The San Angelo property will be the
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