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.
Restaurants fueled a 27,910 rise in franchise jobs in June, according to a recently released report by a national payroll processor. Read the Los Angeles Times Money & Co. story here.
Bojangles‘ was recently ranked No. 1 for percentage unit growth in the chicken segment by market research firm Technomic. Bojangles’ showed 5.9 percent unit growth, a faster growth rate than competitors such as Chick-fil-A, KFC, Popeyes and Zaxby’s. Read the QSRWeb.com story here.
Chesapeake Lodging Trust refinanced a $130 million term loan secured by two hotels in San Francisco and Chicago. The REIT realized greater proceeds because the properties have appreciated since their acquisitions a few years ago. Read the GlobeSt.com story here.
Carey Watermark Investors has acquired a 75 percent stake in the Fairmont Sonoma Mission Inn & Spa in Sonoma, Calif., through a joint venture. The total investment in the property amounted to $97.1 million, backed by $44 million of debt. Fairmont Hotels & Resorts will
Neiman Marcus and Saks Fifth Ave. survived the economic downturn and came back strong, and both are now seeking new sources of capital to expand amid a changed landscape that includes online discount rivals such as Gilt and Rue La La. For Saks the solution
The Nevada Gaming Control Board issued initial approval for a plan by Caesars Entertainment to spin off its Planet Hollywood Resort and other businesses into a separate company. Read the Las Vegas Review-Journal story here.
Restaurants’ same-store sales were flat in June, after increases of 0.8 percent in May and 0.4 percent in April that led to a second-quarter rise of 0.4 percent, according to the Restaurant Industry Snapshot from Black Box Intelligence and People Report. Read the FastCasual.com story
Several hotels in the San Diego area are pouring in extra money to upgrade their facilities. The Manchester Grand Hyatt is spending $100 million on renovations, the La Valencia Hotel will put $10 million into upgrades and Tom Ham’s Lighthouse put $4.4 million into upgrading
RadioShack, which lost $139 million last year, is in talks with investment bankers to evaluate ways to shore up its finances as it works to revamp its image. The retailer has been upgrading its merchandise offerings with hot products such as speakers from Beats by
Eleven U.S. retailers reported a 4.8 percent same-store sales increase in June, beating a Thomson Reuters’ forecast of 3.6 percent, with Gap reporting a better-than-expected 7 percent jump led by a double-digit increase at Old Navy. The data indicate that overall consumer spending is on
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