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.
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.
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.
Leaders of the travel industry in South Florida are predicting another boom year for area tourism in 2013 as international-visitor numbers continue to climb. Airlines have expanded routes between Florida and Latin American countries to capture the market, and area hotels are launching marketing efforts
Starwood Hotels & Resorts Worldwide is looking to expand its footprint in Brazil with a conversion project on the 284-room former Hotel da Bahia in Salvador. The Sheraton da Bahia Hotel is scheduled to open in the first quarter of 2013. Another hotel, the Sheraton
The Chicago lodging market is experiencing a boom in property development in response to a rise in leisure and business travel to the city. Downtown Chicago is expected to add 2,340 rooms to its supply, with seven hotels under construction. Revenue per available room in
Companies will invest at least $1.5 billion in Las Vegas’ gaming real estate market within the next two years as a result of the financing and upgrades of properties on the Strip, according to gaming industry analysts and brokers at Colliers International Gaming Group. Among
Skye Hospitality has agreed to sell a portfolio of 10 hotels in the Baltimore area to MCR Development for an undisclosed amount. The hotel portfolio comprises 1,294 rooms, and the properties are operated under various brands by Marriott International and Hilton Worldwide. Read the CoStar
Companies will invest at least $1.5 billion in Las Vegas’ gaming real estate market within the next two years as a result of the financing and upgrades of properties on the Strip, according to gaming industry analysts and brokers at Colliers International Gaming Group. Among
Skye Hospitality has agreed to sell a portfolio of 10 hotels in the Baltimore area to MCR Development for an undisclosed amount. The hotel portfolio comprises 1,294 rooms, and the properties are operated under various brands by Marriott International and Hilton Worldwide. Read the CoStar
Marriott International introduced its JW Marriott brand in Panama with the opening of the JW Marriott Panama Golf & Beach Resort near Panama City. The 118-room property joins Marriott’s other hotels in the country, including the 248-room Courtyard by Marriott Panama Real, the 380-room Panama
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