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.
Western International has sold a portfolio of 26 hotels to MCR Development for $430 million. The hotels are operating under various Marriott and Hilton brands and comprise a total of 3,002 rooms. The properties will retain their management and brand affiliations under existing long-term franchise
Japanese fast-fashion retailer Uniqlo will open eight more U.S. stores by Thanksgiving, doubling the number of stores in the states with a strategy that clusters shops in the New York and San Francisco areas. The strategy makes sense from both marketing and employee training perspectives.
STK Steakhouse, a seven-unit steakhouse chain that also provides food service for restaurants, bars and hotels, will go public Thursday when its parent company One Group merges with a so-called “blank check” company. Institutional investors will invest $15.5 million for a stake in the company,
The Courtyard by Marriott brand is officially the big 3-0. Since its debut in 1983, the chain has grown to nearly 1,000 properties in 38 countries. Read the Hotel Interactive story here.
A portfolio of four Pennsylvania hotels with a combined 472 rooms has been sold to American Hotel Income Properties. AHIP acquired the properties from an undisclosed seller for $57.3 million. Three of the hotels operate under the Hampton Inn brand, while one is a Residence
Caribou Coffee and Bruegger’s have selected the sites where they will open their first combined locations next month. Caribou Coffee Co. Inc. will remodel its existing Har Mar Mall store into a dual-branded Caribou-Bruegger’s store. Bruegger’s Enterprises Inc. will convert its store at Sun Ray
The Global Business Travel Association reports that despite the effects of the ongoing government shutdown on corporate travel, growth in business-traveler numbers next year is expected to help raise overall spending by 7.2 percent, to $288.8 billion. The number of business trips taken is predicted
An out-of-town development group is pursuing plans to build a Westin hotel on roughly an acre across from the new Music City Center. Read The Tennessean story here.
Checkers franchisee IB Corp. will soon open its 13th Michigan location, and owner Alan Balen is optimistic that the chain will continue growing as lower land and development costs and rebounding sales make the region more attractive. The company, which also operates three eateries in
Darden Restaurants bought the 10-unit upscale seafood chain Eddie V’s two years ago for $59 million, adding the concept to the specialty group that by 2015 is forecast to account for 40 percent of the company’s sales growth. The specialty group also includes Capital Grille,
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