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.
Chartres Lodging Group has finalized its acquisition of the Radisson Plaza Hotel Minneapolis for about $28 million. The company plans to renovate the 360-room property and convert it into a Radisson Blu hotel. The conversion is expected to cost $25 million to $30 million. Read
Just in time for its 35th anniversary, the Hyatt Regency Dallas has completed a $50 million renovation. Each renovated room includes a lounge chair, a desk chair and a chaise lounge. Read the TravelPulse story here.
A panel of experts speaking during a session at the Hotel Equity and Lender Perspectives conference in Boston gave a positive long-term outlook for the hotel industry. PKF Hospitality Research predicts the next downturn may not occur until 2017. Read HotelNewsNow.com story here.
Subway tops the roster of best global franchises, followed by 7-Eleven, McDonald’s, KFC, Burger King and Pizza Hut, according to Franchise Direct‘s fifth annual list. Franchise companies are evaluated on several criteria including number of units, company sales and support for prospective and current franchisees.
Tesco will definitely exit Fresh & Easy Neighborhood Market in the U.S. during the next few months as it continues on a path to revive sales at home, although the buyer and terms of the sale have yet to be identified, the company says. The
Chadwick’s of Boston left behind an earlier strategy of trying to appeal to a younger demographic and returned to its core audience of women aged 45 to 60 after going through a Chapter 11 bankruptcy reorganization in 2011. The retailer has also added the words
More than 20 eateries were temporarily closed Tuesday in the aftermath of the Boston Marathon bomb blasts that killed three and wounded more than 100. Others have already shifted into helping mode — Craigie on Main donated last night’s tasting menu proceeds to help victims,
Groundbreaking on a dual-branded hotel building near the San Jose International Airport in San Jose, Calif., is expected in May. The hotel will comprise a 146-room SpringHill Suites by Marriott and a 175-room Residence Inn by Marriott hotel in a single seven-story building. Read the
Wal-Mart is rolling out new renewable energy initiatives aimed at reducing the retailer’s reliance on fossil fuels and eventually pulling all of its power from renewable sources. The initiatives are part of the chain’s strategy to keep cutting costs and maintain its low-price business model.
The U.S. lodging market had 320,750 rooms in its development pipeline in March, with a 19.3 percent increase in the number of rooms under construction compared with the same period last year, STR reports. On a regional basis, the Asia-Pacific region had the most rooms
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