The new owner of the Fairmont Copley Plaza is planning a $20 million “refreshing” of the iconic 383-room hotel, including building a larger fitness center.
But here’s the other potentially more important news: That the nearly $100 million purchase deal happened at all, considering the still largely frozen credit and investment markets, and that an executive with the new owner thinks the “Boston market is going to have higher future growth faster than the rest of the industry.”
A lot of news reports are saying the same thing: The area’s economy is stronger than elsewhere in the country, making it a more attractive place to do business. It all feeds on itself. Let’s hope it keeps up.