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.
Chatham Lodging Trust plans to acquire the Hyatt Place Pittsburgh/North Shore. It is paying $40 million in cash for the 178-key hotel. Read the Hotel Management story here.
A new guestroom tower and renovated meeting spaces and public areas are part of a $110 million expansion project at Hyatt Regency McCormick Place in Chicago. The new tower features 12 suites and two new premium suites among the 460 guest rooms it adds to
The national occupancy rate in U.S. hotels is expected to rise 2.2 percentage points next year, reaching 63.8 percent, the highest yearly occupancy rate since 1997, PKF Hospitality Research reports. The group forecasts a 15.4 percent growth in net operating income and a 7.7 percent
Microsoft is opening a Windows Store within 600 Best Buy locations to sell computers, phones and Xbox products. The move, which comes after Apple and Samsung Electronics set up similar spaces, is part of Best Buy’s effort to distinguish itself from online rivals and other
McAlister’s Deli has signed agreements with four franchise groups to develop 21 new restaurants in seven states. Read the FastCasual.com story here.
New construction plans were recently released for World Trade Center Towers 2, 3 and 4 in New York City. The 4 WTC tower will reach 72 floors and become the first completed office building on the original site. Potential tenants are being sought for 2
Carey Watermark Investors has purchased the 226-room Holiday Inn Manhattan 6th Avenue hotel in New York for about $121.4 million. The sale price includes $8.4 million in acquisition-related costs and investment in property renovations. Carey Watermark secured $80 million in debt to finance the acquisition.
Ulta Salon, Cosmetics & Fragrance added 22 percent more store space last year and plans to add 125 new locations in 2013. The retailer, which typically opens shop in less-pricey off-mall spaces and attracts fans with a mix of high-end and discount beauty products, was
Marriott’s new budget hotel brand Moxy already has six projects approved for development following the 2014 opening of its debut property in Milan. Read the HotelNewsNow.com story here.
Arby’s Restaurant Group has announced the sale of 23 company-operated restaurants in Southern California in two separate transactions with active and growing restaurant developers. Read the QSRWeb.com story here.
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