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.
A new design proposal for a $1 billion casino project in Boston includes lots of greenery in an attempt to boost Suffolk Downs‘ chances of securing a state operating license, according to the racetrack group. Read The Boston Globe story here.
The Hyatt Regency Chicago is nearing completion of a $168 million renovation project that seeks to introduce technological innovations aimed at enhancing the guest’s stay. When the property reveals the upgrades in April, guests will be able the check in through strategically placed kiosks in
Restaurant operators’ optimism hit a five-month high in January, as eateries forecast growth in same-store sales, capital spending and the overall economy, according to the National Restaurant Association‘s monthly performance index. About 30 percent of operators said they expect economic conditions to improve in the
Hotels around the globe are doing relatively well so far this year. As long as they can “maintain rate, capitalize on changing channel mixes and create value creation offerings,” the trend should continue, experts say in this feature. According to TravelClick, the top 25 U.S. markets will
The Plasencia Group, which specializes in hotel transactions, says real estate investment trust acquisition activity will grow this year. That in turn would drive more competition for properties in the major markets along with higher prices. Read the Hotel Management online story here.
Wyndham Hotels & Resorts has announced that it has reflagged and taken over operations of eight hotels owned by FelCor Lodging Trust. The properties, with 2,523 rooms, are in Boston, Houston, New Orleans, Philadelphia, San Diego, Pittsburgh, Charleston, S.C., and Santa Monica, Calif. Read the
Marriott International has unveiled plans to launch a new hotel brand in the economy segment through a partnership with Inter IKEA, the parent company of the IKEA furniture chain. The Moxy Hotels chain will offer rooms with high-tech amenities and floor-to-ceiling wall art. The brand’s
Wal-Mart‘s performance of a new set of stores under 60,000 square feet will lead to the opening of 115 more this fiscal year in areas that fit the bill. The retail giant says it “can deliver price, and assortment and fresh food and Rx.” Read The Wall
Executives of DiamondRock Hospitality said the company’s strategy over the next two years will focus on divesting noncore assets and renovating its existing hotel portfolio. DiamondRock’s planned investment for renovations will amount to $140 million. Read the HotelNewsNow.com story here.
The economic downturn has driven more consumers from casual chains toward lower-priced, fast-casual eateries and the occasional higher-priced splurge. U.S. consumers made about 600 million fewer visits to casual eateries last year compared to 2008. Read the Orlando Sentinel (Fla.) story here.
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