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 Trump Organization‘s plans to renovate the Old Post Office building in Washington, D.C., into a 271-room luxury hotel is allowing the 115-year-old landmark to remain a part of the Washington landscape and preserve its classic architecture, instead of being torn down under previous plans
A growing number of stand-alone hotels are making their appearance in Atlantic City, N.J., marking a return to the past, when the area’s main attraction was the seashore and casino hotels didn’t exist. Among those opening recently are the Claridge, the former Ascot motel and
Hotels’ profits rose 10.2 percent in 2013, reaching $41 billion and marking continuing growth in the industry’s profitability, STR Analytics reports in its Hotel Operating Statistics Almanac. PKF Hospitality Research says the industry is currently in a “sweet spot” of profitability as room rates have
Accor said it is buying back hotels in Switzerland, Germany and the Netherlands that it had sold and leased back under a previous plan to move away from an asset-ownership structure. The total sale price is $1.23 billion. The properties include 11 hotels with 1,592
Sears has launched 1,700-square-foot Connected Solutions test shops inside three of its Illinois Sears stores, selling a selection of smart devices and home-automation products, from smart watches to garage door openers. The new spaces include interactive displays that let shoppers explore the gadgets firsthand. Read
The storied Radisson hotel in Minneapolis, which has hosted dignitaries for more than a century, will reopen in July as the Radisson Blu. The hotel will undergo a $28 million renovation for its reincarnation as the luxury version of the Radisson brand. Chartres Lodging Group,
LaSalle Hotel Properties is selling the 246-room Hilton Alexandria Old Town, located in the Washington, D.C., area, for $93 million. The REIT will use the proceeds to reduce borrowings on its senior unsecured credit facility. Read the GlobeSt.com story here
Food Lion parent Delhaize Group has divested grocery chains Sweetbay, Harveys and Reid’s in a $246 million deal that was completed Monday. The Belgian food retailer, which operates more than 3,500 stores worldwide, sold the chains’ operations to Bi-Lo Holdings. Read the American City Business
La Quinta Inns & Suites introduced a new design model today that incorporates most of the popular hospitality trends today. Guest experience research influenced the new prototype, Del Sol, which incorporates design and smaller spaces to save customers money, larger community areas including a larger
Starwood Hotels & Resorts Worldwide is set to double the portfolio of its select-service Element brand by 2017, including the brand’s first expansion outside of North America in Asia Pacific and Europe. Read the HotelsMag.com story here
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