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.
Tesco‘s deal to sell its U.S. Fresh & Easy stores furthers the U.K. chain’s goal to concentrate on revitalizing the business at home, a strategy reflected in the new Tesco Extra format. The hypermarket concept encourages customers to spend more time in the store, combining
The recovery of U.S. resort hotels since the downturn has progressed steadily, with performance metrics nearing prior peak levels, according to STR. Revenue per available room at resort hotels in the United States have risen 6.9 percent year-to-date through July, amid a 5.4 percent rise
The Canadian Pension Plan Investment Board and U.S. private-equity firm Ares Management will pay $6 billion to acquire the majority stake in luxury department store Neiman Marcus, with the retailer’s management team retaining a minority stake. The deal includes the retailer’s 41 name department stores,
American households spent 2.2 percent more on food away from home last year compared to 2011, while spending on food prepared and eaten at home saw a similar bump, according to new data from the Bureau of Labor Statistics. Total spending on food comprised 12.8
The Wyndham Grand Chicago Riverfront hotel offers premium cable channel streaming on devices from Showtime Anytime and HBO GO. But the streaming channels come with their own set of challenges for hotels. Read the Hotel Management online story here.
Hotels under the Howard Johnson brand will undergo a multiyear refresh, the Wyndham Hotel Group said during its recent company conference. The overhaul will include new exterior and interior designs, new service training programs and a new logo. Read the HotelsMag.com story here.
Steady growth since 2010 has brought global hotel rates close to levels seen in 2006, Hotels.com‘s Hotel Price Index shows. Hotel rates through the first half of 2013 rose 2 percent against the previous year, with Latin America recording the strongest rates growth at 7
Construction spending rose 0.6 percent in July due to strong gains from the housing and nonresidential sectors. Residential spending will remain strong, but private nonresidential spending will be very uneven and public construction spending remains threatened. It was the strongest month for construction spending since
The volume of hotel transactions in the United States during the first half of 2013 reached 604, up from 364 a year ago, Lodging Econometrics says in a new report. The average selling price per room rose 15 percent from last year, to $130,119. The
The Hyatt brand is geared at incorporating itself into the individual location of the hotel. Hyatt execs say the acquisition of AmeriSuites hotels became the first Hyatt Place hotels, which the company used as a “laboratory” to incorporate customer feedback into the company’s branding process.
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