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.
Hotel occupancy and average daily rate in the group and transient segments are poised to grow in 2014, TravelClick reports in its February 2014 North American Hospitality Review. The report predicts a 4.2 percent increase in committed occupancy from February 2014 to January 2015 and
Kroger has reportedly contacted Safeway and private-equity firm and lead bidder Cerberus Capital Management about buying some of Safeway’s business, sources said. However, sources have also said that Safeway prefers to sell its business whole. Read the Bloomberg story here
The Wichita Marriott hotel in Kansas has completed a $5 million renovation that includes a major overhaul of its ground floor. The project also transferred the concierge lounge to the first floor and expanded the property’s meeting and banquet space to 17,128 square feet. Read
Inland American Lodging Group has acquired the Aston Waikiki Beach Hotel in Honolulu, marking its entry into the Hawaii market. The 645-room property was sold for $183 million, and will remain under management by Aston Hotels & Resorts. Read the Commercial Property Executive story here
Caesars Entertainment plans to sell four casino-hotels to an affiliate as part of its restructuring. Harrah’s New Orleans Hotel and Casino, the Cromwell Las Vegas, the Quad Resort & Casino and Bally’s Las Vegas Hotel & Casino will be sold to Caesars Growth Partners in
Benchmark Hospitality has unveiled two new brands, Personal Luxury Resorts & Hotels and Benchmark Resorts & Hotels, to better indicate for guests the qualities and goals of individual hotel properties. Read the HotelsMag.com story here
Hotel Hugo, a boutique property being developed in New York by developer Matthew Moinian and Fortuna Realty Group, is scheduled to open by winter 2014. The luxury hotel will offer 122 rooms, with two suites on the top floor, a rooftop cocktail lounge, an Italian
Canada’s Tim Hortons will open at least 500 new units at home and 300 more in the United States in the next five years, as it uses new technology and data-driven marketing techniques to boost brand awareness and market share. The company also said it plans
Sears Holdings Chairman and CEO Edward S. Lampert tells investors that the retailer will see an improvement in 2014 following its $358 million loss in the fourth quarter and a $1.4 billion loss for 2013. Read the SCT Newswire story here
A routine makeover of the Macy’s store on Fulton Street in Brooklyn, N.Y., isn’t what’s needed to suit the neighborhood, according to company executives in a Wall Street Journal story. Instead, the retailer will consider upgrades that better reflect the changing community, with its vibrant
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