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.
Loews Hotels & Resorts is looking to ramp up its property construction and acquisition efforts around the world to reach its goal of having 50 hotels by 2016, the company says. Read the HotelNewsNow.com story here.
Construction employment increased in 139 out of 337 metropolitan areas between December 2011 and December 2012, declined in 131 and was stagnant in 65, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that
Summit Hotel Properties has closed on a $36.1 million purchase of three hotels under the Hyatt Place brand. The new acquisitions are the 149-room Hyatt Place Orlando/Convention Center and the 151-room Hyatt Place Orlando/Universal in Orlando, Fla., as well as the 126-room Hyatt Place Chicago/Hoffman Estates
Dollar General plans to add 635 locations and pass the 11,000-store mark later this year. The discount retailer expects to add about 6,000 new jobs, bringing the total number of positions created in the past six years to 30,000. Read the Columbus Dispatch story here.
The DLA Piper 2013 Hospitality Outlook Survey has found that 84 percent of hotel executives possess a bullish industry outlook in 2013. Thirty-five percent of respondents named Brazil as the top market for outbound investment, followed by China with 25 percent of votes. Read the
Some analysts believe the industry is on its way to returning to peak performance levels reached in 2007 as demand continues to exceed supply. STR predicts that revenue per available room will rise 5.7 percent this year and 6 percent in 2014. PKF Hospitality Research
Hilton Worldwide reports that its global development pipeline is nearly 170,000 rooms in almost 1,000 hotel properties. The numbers represents the largest pipeline in the lodging industry. The company also reports that its 2012 growth drive led to more than 28,000 additional rooms in 171
PA-HFF is marketing the Marriott Pittsburgh North hotel in northern Pittsburgh, just as it appears Starwood Capital Group may acquire the Westin Convention Center hotel downtown. Starwood has reportedly made inquiries about acquiring the Liberty Center office complex and the adjacent Westin. Read the GlobeSt.com
The Courtyard by Marriott Seattle North/Lynnwood Everett in Washington state has been acquired by CSM Lodging for an undisclosed amount. CSM Lodging says it plans to renovate the property this year and operate it under the Courtyard by Marriott brand. Read the GlobeSt.com story here.
The number of U.S. restaurants grew 0.7 percent to 616,008 in the year ending Sept. 30, 2012, with chains growing 1.1 percent and independent eateries increasing 0.4 percent, according to NPD Group. Independent burger joints with one or two locations showed stronger growth, posting a
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