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 TravelClick study has found that hotel-room rates in London during the Summer Olympics have gone up 69 percent on average, compared with rates during the same period in the previous year. TraveClick reports that the occupancy rate in the city over the entire Olympics
J.C. Penney executives say the best days for brick-and-mortar retail stores are ahead, at least for those that figure out how to adapt to a digital world. Read the CNET story here.
SBE Entertainment Group has launched an $85 million project for a 190-room SLS Hotel in New York. The 20-story property is expected to open in 2013 and will be the luxury SLS brand’s first hotel in the city. SBE plans to expand the SLS brand
Hard Rock International is reaching out to investors to raise $250 million for its plan to expand its hotel business. The Seminole Indian tribe’s company is looking to pursue growth in 50 markets, including London, Hong Kong, Paris, Beijing and New York. Read the Bloomberg story
The hotel and airline industries should experience solid gains for the rest of the year despite lingering worries over the European economy and the upcoming U.S. presidential election, analysts say. Observers point to steady growth in business- and leisure-travel demand as signs of impending growth
San Francisco-based steakhouse chain Del Frisco’s expects to sell 7 million shares priced at between $14 and $16 in an initial public offering. The company, which filed IPO papers in 2007 but withdrew the following year, is one of several restaurant chains including CKE Restaurants
Smashburger has brought its brand of so-called better burgers to Thousand Oaks, the first of as many as 60 outlets it plans to open in the Los Angeles area in the next seven years. Read LA Times story here.
Darden Restaurants will pay $585 million in cash to acquire the 39-unit Yard House USA chain, and operate the acquisition through its Specialty Restaurant Group along with higher-end concepts including Capital Grille and Seasons 52. Yard House, which opened its first location on the water
Louvre Hotels Group plans to expand its global portfolio to 1,100 hotels by the end of 2012. The company is eyeing emerging markets such as Brazil, China and India for growth and is pushing its Golden Tulip brand as its main international brand, as it
Denny’s plans to open 50 new restaurants in southern China over the next 15 years. The company has inked an agreement with Great China International Group to open the restaurants. The Chinese company has exclusive rights to open units in six Chinese provinces and expects
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