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.
BJ’s Restaurants began in 1978 as a single Santa Ana deep-dish pizza and beer joint and has since grown into a publicly traded company with 132 restaurants in 15 states and plans to eventually grow to at least 452 U.S. locations, with 17 new restaurants
According to the 2013 HOST Almanac, which included 2012 data, upper-midscale properties had greater profit growth than midscale sites. National luxury hotel brands had an average profit increase of more than 15 percent. Read the HotelNewsNow.com story here.
Ashford Hospitality Trust is creating Ashford Hospitality Prime, a publicly traded real estate investment trust derived from eight of its top RevPAR hotels. Ashford Prime will compete with LaSalle Hotel Properties and other REITs that focus on acquiring upscale hotels with a minimum revenue per
Lowe’s $205 million bid to acquire at least 60 Orchard Supply Hardware Stores, which recently filed for Chapter 11 bankruptcy protection, would give the home-improvement chain a leg up in the California market. All but two of Orchard Supply’s 91 stores are in the Golden
High-tech innovations at hotels in the Twin Cities of Minnesota include iPad tablets at the front desk and fiber-optic networks behind the scenes. Read the Pioneer Press story here.
PKF Consulting’s Hospitality Investment Survey showed that revenue per available room in most major U.S. hotel markets is expected to rise between 6 percent to 7 percent amid limited supply growth, more accessible financing and higher profits. The report projects growth in net operating income
Inland American Lodging Advisor will continue to focus more on acquisition than hotel development. The group owns 90 hotels, with plans to acquire three more, and has its eye on the luxury hotel market. Read the HotelNewsNow.com story here.
AmericInn has purchased a Hampton Inn property in Bloomington, Minn., for $4.2 million. The lodging firm says it will invest a further $1 million into renovating the 135-room property. Read the American City Business Journals story here.
The Grand Hyatt Atlanta teamed up with Southern Polytechnic University and a local plumbing company to create a rain harvest system that helps reduce the hotel’s reliance and spending on city water. The system is capable of gathering and storing 30,000 gallons of water, which
Trump International and Tower plans to add a second hotel in Canada, with Holborn Group as the project developer. The planned $360 million hotel in downtown Vancouver will feature high-end suites, a club, a spa and a champagne lounge. The hotel will acquire the company’s
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