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 Lauderdale Beachside Hotel in Fort Lauderdale, Fla., has been acquired by Florida Development Group for $17 million in cash. The 147-room beachfront hotel, which had filed for bankruptcy protection after entering foreclosure, includes a pool, a restaurant and a tiki bar. Read the GlobeSt.com
Fast-casual dining and pizza are two fast-growing restaurant trends, and Denver-based burrito giant Chipotle is joining a growing group of restaurants that are betting the fast-casual model can succeed when applied to pizza. This year the company invested in Pizzeria Locale, a pizzeria where patrons
PKF Hospitality Research predicts significant growth in lodging performance in 2014 and 2015, in the wake of a slowdown this year caused by the government shutdown and sequester. PKF-HR’s latest Hotel Horizons report forecasts a 6.6 percent increase in revenue per available room next year
Hotel developers in Mexico and the Caribbean are busy launching and developing new concepts. A number of new hotels have opened in the regions, including Sandals LaSource Grenada, The Hard Rock Hotel in Mexico’s Riviera Maya and Sandals Barbados. Read the Travel Weekly story here.
Hotels in the Chicago markets posted big gains in the first month of December. Recent data from STR shows that hotels in the market logged the largest jumps in the three key performance metrics out of the top U.S. 25 markets during the first week
A joint venture that includes Concord Hospitality, MIA LeJeune and Travelers Hotel Group has begun construction of a 135-room hotel near the Miami International Airport. The $21 million property is scheduled to open by the fourth quarter of next year under the Hyatt Place brand.
From connected suites to better lighting to contemporary furnishings hotels are seeking to use design as a draw from the growing baby boomer market. Experts say it’s an increasingly important focus. Read the HotelNewsNow.com story here.
Hersha Hospitality has purchased two hotels in Miami that are part of Marriott International’s Autograph Collection — the 70-room Winter Haven Hotel and the 75-room Blue Moon Hotel in South Beach. The hotels were acquired for $51 million. Read the American City Business Journals/Philadelphia story
Twin River Worldwide Holdings announced plans to purchase a casino-hotel in Biloxi, Miss., for $250 million. Twin River, based in Rhode Island, will acquire the Hard Rock Hotel & Casino to diversify its holdings ahead of the opening of casinos in Massachusetts. Read The Providence
Restaurant traffic was flat during the 12-month period through September, and sales rose a scant 2 percent, metrics NPD Group says will improve next year as consumers see a rise in disposable income and a drop in unemployment. Traffic is on track to rise 1
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