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.
Buoyed by stronger same-store sales and customer traffic levels, the National Restaurant Association‘s Restaurant Performance Index (RPI) posted a modest gain in August. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at
Accor is undertaking a four-year expansion strategy in Brazil that is designed to increase its portfolio there to 250. The effort is expected to cost $1.5 billion and produce about 25 hotel openings a year. Read the Bloomberg story here.
Hoteliers are bolstering spending on property improvements this year after the recession forced many to postpone upgrades for several years. According to a survey conducted by Bjorn Hanson, divisional dean of New York University’s Preston Robert Tisch Center for Hospitality, Tourism and Sports Management, capital
The Westfield Garden State Plaza in Paramus, N.J., is home to the first U.S. mall store from Japan’s Uniqlo. The fast-fashion chain expects the 43,000-square-foot, two-level store to be the first of about 200 planned stores for malls across the country, as part of the
Macy’s has teamed with athletic shoe brand Finish Line to create branded shops set to launch next spring at 450 Macy’s stores and online at Macys.com. The deal makes Finish Line the department store chain’s exclusive athletic shoe partner.
Panda Express has reached a major milestone with the opening of its 1,500th location. The unit, located in Cordova, Tenn., is the first Panda Express restaurant in the Memphis area and the site for one of Panda’s new store design prototypes. The new restaurant design
Summit Hotel Properties has agreed to acquire eight Hyatt hotels for about $87.4 million. The company also plans to buy a 178-room Residence Inn in Salt Lake City for $20 million and a 98-room Hilton Garden Inn in Fort Worth, Texas, for $7.2 million. Read
P.F. Chang’s is seeing success with its first eatery in Canada, and it and other U.S. chains are looking northward for growth. About 47 percent of Canadians dine out daily, compared to 44 percent of Americans, making the market attractive despite the higher costs for
Air-travel and lodging prices are expected to rise slightly next year as slow economic growth continues to encourage corporate travel. According to the CWT Solutions Group, there will be a rise in hotel prices of between 2.4 percent and 3.9 percent in 2013. Add-on fees and
Data released by STR show U.S. hotels raised revenue per available room by 7.2 percent in August, to $72.55. Average daily rates during the month rose 4.3 percent, while occupancy climbed 2.8 percent, to 67.8 percent. “Because of an extra weekend day in August, demand
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