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 section of New York City’s Madison Avenue suffered during the downturn as established upscale retailers moved out. Flash forward to 2012, and more than 50 luxury merchants have taken their place, creating a mix of European names and U.S. brands including Alice + Olivia,
The dean of New York University’s Preston Robert Tisch Center for Hospitality, Tourism and Sports Management, predicts that U.S. hotels are set to collect $1.95 billion in fees this year, surpassing last year’s amount by 3.5 percent. The larger collection comes from higher fee amounts
According to a Wall Street Journal story, while an IPO at Neiman Marcus isn’t coming soon, it’s a likely eventuality. The story reports that as the private equity group that paid $5.1 billion for the luxury department store chain seven years ago starts to plan
After close discussions with industry groups, the General Services Administration said federal per diem rates at hotels for fiscal 2013 will stay at current 2012 levels. The AH&LA wrote: “While certainly not ideal, the rate freeze is a far less radical approach than the crippling
Domino’s plans to make its stores more welcoming, as more customers choose to pick up rather than call for delivery, and the chain is also dropping the word “pizza” from its logo. Domino’s said the redesigns were an extension and reflection of the company’s marketing
Hardin Construction Co. and Hunt Construction Group have broken ground on a 13-story Hyatt Place hotel in downtown Nashville. The hotel is a joint venture between White Lodging Services Corp., and Host Hotels and Resorts Inc. The 13-story hotel, White Lodging’s second hotel in Nashville,
Liberty Group has acquired the Hampton Inn & Suites by Hilton in Tampa, Florida. The purchase marks Liberty’s 18th hotel acquisition throughout the United States since 2010. Built in 2005, the hotel is strategically located on Interstate 4 between Tampa and Orlando, and adjacent to
Sears is moving forward with plans to spin off its Hometown and hardware stores into a separate company, according to new regulatory filings this week. The company expects the spinoff to raise between $400 million and $500 million. Read The Wall Street Journal story here.
Shoney’s will open its first limited-service eatery in Houston this week. The 65-year-old chain aims to open about 50 of the fast-casual Shoney’s On The Go units during the next five years, with menus boasting the brand’s signature All-American Burgers and other favorites. Read the
“Welcome to Moe’s!” soon will be heard throughout St. Joseph, Mich., thanks to local restaurateur Joyce Lunsford. The St. Joseph’s location is the first of 25 Moe’s Southwest Grille‘s the owner of Trigo Hospitality plans to open throughout the Midwest. Read the QSR story here.
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