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.
Blackstone Group will reportedly buy luxury hotel owner LaSalle Hotel Properties for $4.8 billion. The deal comes three days after Blackstone agreed to give up the last of its Hilton stake and represents a premium of nearly 35% above LaSalle’s share price on March 27,
CSM Lodging has completed renovations for Courtyard Portland Downtown Convention Center Hotel, a 202-key property situated in downtown Portland. CSM Corp. owns and operates the asset. Read the Commercial Property Executive story here
Papa Murphy’s closed 62 locations last year, and franchisees are expected to open only 10 this year, in a temporary slowdown as part of a plan to shift to at least 95% franchised units. The take-and-bake pizza chain will also expand its online ordering business
When the Marriott TownePlace Suites, an extended-stay hotel, opens on Janesville’s northeast side next year, it could help newcomers find stopgap living arrangements as they look for new digs in town. Read the WCLO-AM story here
AccorHotels is buying a company that manages 11 Atton Hotels properties for about $105 million in addition to 20% ownership of the hotels themselves. Read the Reuters story here
The developer of a planned hotel on the TCU campus says the structure will open in spring 2020, with 150 rooms, a rooftop bar and a 4,000-square-foot ballroom. Read the Fort Worth Star-Telegram story here
Hotel developers are gravitating more to college towns as sources of brisk business that are less affected than other markets by fluctuations in the overall economy. Some companies, such as Graduate Hotels and Study Hotels, have emerged specifically to fill the niche. Read the Hotel
After nearly nine hours of discussion, the Naples City Council approved the controversial building of the Old Naples Hotel on Third Street South downtown. Read the WBBH-TV story here
Branching out from its debut store in Seattle, Amazon is taking its checkout-free Go stores to Chicago and San Francisco. To shop in a Go store, the customer must download the Amazon Go app on their smartphone and select a mobile payment method. Read the
Kona Grill will begin franchising in the United States and in China with the Chinese Plateno Hotel Group, which invested $5.6 million in Kona Grill shares. Kona Grill operates 46 U.S. restaurants and has three international franchise locations. Read the Nation’s Restaurant News story here
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