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Photo courtesy of Certares
An investment partnership that completed a $171 million acquisition of the Hilton Boston Back Bay hotel plans a capital improvement program to modernize the 41-year-old property.
New York-based investment firm Certares, in partnership with Belcourt Capital Partners, bought the 390-room hotel at 40 Dalton St. and a 209-space parking garage this week.
What else is on tap today?
- Calls for Boston Belt-Tightening: Only days after announcing a plan to seek state approval to raise property tax rates on commercial property owners, Boston’s mayor filed a budget that raises spending.
- Business Confidence Hit: Confidence among Massachusetts employers stumbled in March for the first time in four months, but remained in optimistic territory, according to the latest survey from the Associated Industries of Massachusetts.
Show me the data!
Here’s what interest rates did this week.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- NIMBY local pols and naysayers wrecked the housing market in Massachusetts. Now, they’re threatening to do the same thing with the state’s new clean energy industry unless Beacon Hill can stop them.
- New hotel construction has slowed to a crawl in Boston since COVID but a new source of room supply is emerging in conversions spurred by the city’s struggling office market.
- A partnership between Camber Development and Wheelock Street Capital has begun construction of an all-electric 238,000-square-foot warehouse and distribution facility in Wilmington.
