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.
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
Specialty retailer Vitamin Shoppe will acquire Seattle-based Super Supplements for about $50 million in cash, giving the New Jersey-based company a bigger presence on the West Coast. Vitamin Shoppe’s roster includes 17 stores in the Northwest, while Super Supplements operates 31 shops in Washington, Oregon
Small hotel projects accounted for 92 percent of the U.S. lodging market’s total construction pipeline by the end of the third quarter, according to Lodging Econometrics. The group says that growth in the overall pipeline during the third quarter marks the second consecutive quarterly rise
A new study by Jones Lang LaSalle Hotels has found that globally, investors’ interest in the hotel market has risen to its highest level since 2005. On a global scale, the short-term performance outlook for hotels has strengthened amid economic uncertainty. Performance expectations in the
Small hotel projects accounted for 92 percent of the U.S. lodging market’s total construction pipeline by the end of the third quarter, according to Lodging Econometrics. The group says that growth in the overall pipeline during the third quarter marks the second consecutive quarterly rise
STR‘s initial forecast of 7 percent growth in revenue per available room during year-end 2012 may not be a sure indication of the industry’s growth, according to Citadel Realty Advisors. Adjusting for inflation reveals that hotel revPAR as of October 2012 is 13.2 percent lower
Pinnacle Entertainment plans to acquire Ameristar Casinos for $869 million. “The acquisition of Ameristar is a transformative transaction for Pinnacle that will provide us the scale and diversification to more effectively compete. The acquisition will more than double the reach of the Las Vegas-based regional
Specialty retailer Vitamin Shoppe will acquire Seattle-based Super Supplements for about $50 million in cash, giving the New Jersey-based company a bigger presence on the West Coast. Vitamin Shoppe’s roster includes 17 stores in the Northwest, while Super Supplements operates 31 shops in Washington, Oregon
Liberty Group and Starwood Hotels are developing the Aloft in Tampa, Fla. Opening in early 2014 along the Tampa Riverwalk, Aloft Tampa Downtown will transform the former Mercantile Bank office building into an adaptive re-use hotel developed, owned and managed by the Liberty Group. The
The first of 32 planned Corner Bakery restaurants opened in Pleasanton, Calif. The group has another lease singed in Pleasant Hill and hopes to open that restaurant by spring of next year. Read the American City Business Journals story here.
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