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 report by PKF Hospitality Research predicts the hotel industry’s continued improvement in key lodging metrics through 2016. The group projects a 7.2 percent compound annual growth rate in revPAR for the next four years. However, PKF points to continued uncertainties surrounding the “fiscal
Hotel development in the Midwest and across the United States is picking up, as markets such as Chicago, Indianapolis and Milwaukee show encouraging signs of demand growth, according to the First Hospitality Group. However, a continued shortage of lending options and politics-related uncertainties may prevent large
Burger King has formed a joint venture with franchisee Alsea, S.A.B. de C.V., aimed at ramping up expansion in Mexico in the coming years. Alsea, which operates 1,227 restaurants in four Latin American countries, also operates restaurants under several other brands, including Domino’s, Starbucks and
The U.S. restaurant industry appears poised to grow for the fourth consecutive year and hit a new record in 2013, according to a National Restaurant Association report. The report said restaurant sales could reach $660 billion next year. Read the Bloomberg story here.
The World Travel & Tourism Council predicts that 1 billion travelers will cross an international boundary while on a leisure trip in 2012. The group attributes the increase in part to an increasing desire for travel to emerging countries such as China. Read the Reuters
LaSalle Hotel Properties has agreed to acquire the 120-room L’Auberge Del Mar hotel in San Diego for $76.9 million. The purchase price, which amounts to $640,000 per key, sets the record for the largest hotel transaction in California this year. Read the San Diego Union
The World Travel & Tourism Council predicts that 1 billion travelers will cross an international boundary while on a leisure trip in 2012. The group attributes the increase in part to an increasing desire for travel to emerging countries such as China. Read the Reuters
Restaurant chains Snooze and Larkburger have been big successes in Colorado since each opened six years ago — and both are launching national expansions in 2013. Read the Denver Business Journal story here.
West Coast burger chain Fatburger inked a deal with The Riese Organization to bring the brand to New York City and surrounding areas. This franchise development will bring the burger chain to Manhattan for the first time in its 60-year history. Read the QSRMagazine.com story
West Coast burger chain Fatburger inked a deal with The Riese Organization to bring the brand to New York City and surrounding areas. This franchise development will bring the burger chain to Manhattan for the first time in its 60-year history. Read the QSRMagazine.com story
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