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.
The new CityCenterDC development in Washington, D.C., will feature the Conrad Washington, a 370-room luxury hotel located amid retail and residential units. The Hilton-run hotel will open in 2018 and is being designed by Herzog & de Meuron Architekten of Switzerland, and HKS Architects of
Record highs in supply, demand and average daily rate helped drive hotel revenue levels past $163 billion last year as net operating income at same-store hotels rose 10 percent, according to data from STR Analytics. The majority of U.S. markets saw an increase in house
A new hotel building that includes a 330-room Aloft and a 180-room Element is expected to open near the Boston Convention & Exhibition Center in 2016. Starwood Hotels & Resorts will manage the property, which will include a combined 11,000 square feet of meeting space
In early May, Blackstone bought The Cosmopolitan in Las Vegas for $1.73 billion as part of an effort to capitalize on the city’s increased convention and hospitality business. The number of visitors to the city rose 3.5 percent in April from year-ago levels according to
The 220-room DoubleTree by Hilton Hotel Deerfield Beach in Florida has been sold to Garrison Deerfield Propco for $14 million. Coming after two recent major hotel sales, the transaction shows investors’ continued interest in the South Florida market. Read the GlobeSt.com story here
Tim Hortons plans to boost U.S. same-store sales with an ambitious plan of store openings and menu changes. The Canadian coffee and doughnut chain has operated U.S. restaurants for 28 years, but its 870 American eateries account for only a small slice of total sales.
Chatham Lodging Trust has closed on a 51-property portfolio acquisition from Cerberus Capital Management in a deal valued at $1.3 billion. Chatham acquired the 6,848-key portfolio via two separate deals: It bought out Cerberus’ stake in 47 extended-stay and select-service hotels in a joint venture,
Renaissance Hotels has lined up nine hotels to open around the world in 2014, adding to six properties launched earlier this year. The new hotels include one property in Santiago, Chile, and two in southern France, which will be the Renaissance brand’s entry into the
Cabela’s plans to open its first Alabama retail location in Huntsville, Ala., serving customers in northern Alabama and southern Tennessee. Construction on the 80,000-square-foot store is scheduled to begin this fall. The store, which is set to open in fall 2015, will be located in
Hersha Hospitality Trust has acquired the newly opened Hilton Garden Inn Midtown East in New York. Developer Sam Chang sold the 205-room property for $85.3 million, property records show. Read The Real Deal story here
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