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.
Teavana Holdings, the Atlanta-based tea brand, is now a wholly-owned subsidiary of Starbucks, which purchased the company, founded in 1997, for $620 million. Teavana joins other Starbucks brands, including Seattle’s Best Coffee, Tazo and Evolution Fresh. Read the American Business Journal story here.
The historic Adolphus hotel in Dallas has been purchased by hotel investor RockBridge Capital for an undisclosed amount. The company has not yet unveiled plans for further investments on the 440-room property, such as renovations or rebranding. Read the Dallas Morning News story here.
Room rates and occupancies for hotels in the metro Atlanta area have not yet returned to peak levels reached in 2007, but operators are hopeful that an influx of conventions and corporate travelers will lead to a full rebound in the next few years. PKF
Teavana Holdings, the Atlanta-based tea brand, is now a wholly-owned subsidiary of Starbucks, which purchased the company, founded in 1997, for $620 million. Teavana joins other Starbucks brands, including Seattle’s Best Coffee, Tazo and Evolution Fresh. Read the American Business Journal story here.
An 18-story hotel is set to rise in Seattle under plans filed with the city by hotel development and management firm Stonebridge Cos. The company’s plans call for a 252-room hotel with a restaurant and bar. Read the American City Business Journals story here.
The volume of hotel transactions this quarter showed steady growth across the United States and will likely continue to gain momentum in 2013, several hotel brokers say. Some say that 2013 will be a good year barring any unforeseen cliffs or other things that might
The volume of hotel transactions this quarter showed steady growth across the United States and will likely continue to gain momentum in 2013, several hotel brokers say. Some say that 2013 will be a good year barring any unforeseen cliffs or other things that might
7-Eleven plans to open more urban prototype stores across downtown Miami. The retailer recently opened one of its small-format stores on Biscayne Boulevard and has another under construction in South Beach. The 1,800-square-foot concept stores feature a sophisticated design, with discreet signage, butcher-shop-style tiles or wood
Restaurant chains are one of three franchise business categories slated to grow next year, with quickservice franchises on track to rise 5.2 percent compared to a 5.1 percent increase in 2012, according to the International Franchise Association. Read the American City Business Journals story here.
Recent data by STR show an increase in properties switching flags as franchise deals expire. Switching lets hoteliers trade up or down to meet shifting travel patterns, but oftentimes presents a nuisance for current guests. Read the New York Times story here.
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