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.
Hard Rock Hotels & Casinos is on track for growth with a pipeline of more than 100 hotels worldwide. The company also has 10 signed letters of intent in the Caribbean and Latin America as it looks to expand its all-inclusive product in those markets.
Hotel industry experts say the number of super-luxury rooms in New York City with rates of $1,000 or more per night is at an all-time high. The Park Hyatt and the Baccarat Hotel are among the newcomers catering to this market. Read the Crain’s New
Hotel industry experts say the number of super-luxury rooms in New York City with rates of $1,000 or more per night is at an all-time high. The Park Hyatt and the Baccarat Hotel are among the newcomers catering to this market. Read the Crain’s New
Delaware North announced that a 12-story building being built as its new headquarters will include a Westin hotel. The property will occupy the building’s first five floors and include 118 rooms and eight suites, 4,000 square feet of meeting space, a 2,400-square-foot fitness facility, an
Macy’s will pay $210 million to acquire high-end Washington, D.C.-based spa, beauty and skin-care retailer Bluemercury, which has 60 stores in 18 states and a growing online retail presence. Read The New York Times/DealBook blog here
With the launch of its soft brand Curio and lifestyle brand Canopy complete, Hilton Worldwide is now looking to introduce an offering for the economy niche in the next two or three years. The Hilton’s lack of product for the budget segment was because of
The Wharf in Washington, D.C., will soon be home to a new 278-room InterContinental hotel. InterContinental Hotels Group will debut the property, which will feature a spa and rooftop pool, in the second half of 2017. Read the Frequent Business Traveler story here
LaSalle Hotel Properties has paid $350 million to acquire the 681-room Westin Market Street hotel in San Francisco. The hotel, which was renamed Park Central San Francisco, is the company’s seventh property in the city. Read the American City Business Journals/Washington, D.C. story here
Cracker Barrel Old Country Store will create a fast-casual concept with the first units likely to debut by the middle of next year, the company said. The casual dining chain operates 634 restaurants in 42 states, most of them situated along interstate highways. Read the
Hotel supply as of November 2014 increased 3.2 percent over the past five years against 5.3 percent demand growth, which is likely to limit the effects of new supply on some markets, according to the 2015 HVS Hotel Development Cost Survey. Rising construction costs, high
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