Ultima Hospitality buys Marlborough hotel
Ultima Hospitality, a Chicago-based investment and hotel management company, this week announced the purchase of the Boston Marlborough Courtyard by Marriott. The price was not revealed. Located at 75 Felton St., the 202-room hotel will undergo $2 million in improvements, including a redesign of meeting space, which will complement the recent renovation of the lobby, guest rooms, restaurant and public space. “The Greater Boston market is an area we have been, and remain focused on as a result of its existing demand and infrastructure, as well as its near and long-term growth potential,” said Nir Liebling, chief investment officer for Ultima Hospitality. “The ability to acquire an institutional-grade asset within a growing submarket of one of the strongest metropolitan areas in the country is something that we are very excited about.” Ultima will also manage the hotel, which will retain the Marriott name.
Boston Scientific to buy C.R. Bard business
Boston Scientific Corp. plans to spend $275 million to buy the electrophysiology business of fellow medical device maker C.R. Bard Inc. and strengthen its stake in a $2.5 billion global market, according to the Associated Press. Natick-based Boston Scientific said the deal supports its push to offer a “robust portfolio” of tools to diagnose and treat conditions in which the heart beats abnormally. Murray Hill, N.J.-based C.R. Bard’s electrophysiology business employs about 180 people and makes advanced therapeutic and diagnostic catheters, electrophysiology recording systems and other devices. It generated $111 million in revenue last year. Boston Scientific expects the deal to close later this year.
Ameresco lauds Knoxville center on LEED certification
Ameresco Inc., a Framingham-based energy efficiency and renewable energy company, this week commended its customer, Knoxville Convention Center, on earning the LEED Silver Certification for Existing Buildings by the U.S. Green Building Council (USGBC) for the facility’s sustainable operational policies. In order to achieve LEED Certification for Existing Buildings, the Tennessee center was scored in accordance with rigorous guidelines set forth by the USGBC. The center verified that Ameresco installed a 120-kilowatt rooftop solar photovoltaic system as part of a comprehensive energy efficiency project. In addition to the solar installation, the facility added new energy efficient boilers, a 30-ton, air-cooled chiller, window film, a new domestic hot water system and lighting systems to reduce the center’s carbon footprint and make the building more sustainable.
Consigli makes Top 400 Contractors list
Milford-based Consigli Construction Co. Inc. has been ranked 81st among the top 400 construction management firms in the nation by Engineering News-Record (ENR) magazine. The annual survey ranks the largest general contractors in the United States, both publicly and privately held, based on construction contracting-specific revenue. In addition to being listed in ENR’s 2013 Top 400, Consigli was ranked in the Top 100 Contractors by New Contracts (73rd) and in the Top 50 in Domestic General Building Revenue (36th). For more information, visit consigli.com.
Babson College ranked first for best ROI
Babson College in Wellesley was recently ranked number one for return on investment (ROI) by Payscale for business schools. Overall, Payscale rated Babson among the top 25 “Colleges Worth Your Investment” nationwide for best ROI joining the list with other universities such as Harvard, Dartmouth, MIT, California Institute of Technology and University of Notre Dame. For this ranking, Babson is the only private business college to be listed in the top 25 and ranked against more than 1,500 other colleges and universities. Payscale’s ratings were based on a methodology that surveyed graduates and employees taking into account a number of different variables. Ultimately the organization aimed to determine the potential financial return of attending a college given the cost of tuition and the payoff in median lifetime earnings associated with each school.