Loews Hotels & Resorts’ plans for the new Chicago hotel follow the announcement of another new build, the 1,800-room Cabana Bay Beach Resort at Universal Orlando, expected to open in 2014.
Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation, has continued its ambitious expansion programme with an agreement to purchase The Back Bay Hotel in Boston from The Doyle Collection. The acquisition is expected to close in February 2013.
The news follows hard on the heels of the purchase and relaunch of the 356-room Madison Hotel in Washington, D.C. from Jamestown Properties, and the announcement that Loews will open a new Chicago property in January 2015. The Loews portfolio will now consist of 21 hotels, including another under construction in Orlando.
Situated on the corner of Berkeley and Stuart Streets, The Back Bay Hotel is one of Boston’s preeminent historic buildings. Originally constructed in the 1920s as the Boston Police Department Headquarters and occupied as such until the late 1990s, the property was extensively redeveloped in 2004. This downtown Boston landmark features 225 spacious guestrooms, modern amenities, meeting and event space as well as two dining options, Cuffs, an Irish Bar and The Stanhope Grille.
Located in the heart of Washington D.C., the iconic Madison Hotel completed a $23 million renovation in 2012 and has already been rebranded as the Loews Madison Hotel. Located at 15th and M Street, the hotel is home to one of the District’s top restaurants, the Federalist, and is a short walk to the White House, Embassy Row, the Capital, the National Mall and Smithsonian Museums. Attracting an estimated 18 million visitors in 2012, Washington ranks among the top seven U.S. cities for international travellers and among the top 20 domestically.
Slated to open its doors in January 2015, the Loews Chicago Hotel will feature 400 guestrooms, including 36 suites, a signature restaurant, more than 25,000 square feet of innovative meeting space, multiple outdoor terraces for guest and function uses, a spa/fitness centre and an outdoor rooftop including a pool overlooking the city. The hotel is being developed by Chicago-based DRW Trading Group (DRW) and designed by the architectural firm Solomon Cordwell Buenz. Boasting city and lake views from the guest rooms, the hotel will be part of a highly visible 52-storey tower which also includes 390 luxury residential apartments.
Loews Hotels & Resorts’ plans for the new Chicago hotel follow the announcement of another new build, the 1,800-room Cabana Bay Beach Resort at Universal Orlando, expected to open in 2014. Cabana Bay Beach Resort is the fourth hotel in partnership with Universal Parks & Resorts, and is one of the largest hotels being built in the United States at the present time.
Loews Hotels & Resorts continues to seek hotel additions in gateway cities and resort destinations as part of the company’s strategy to add substantially to its portfolio of hotels over the next five years.
“The Back Bay Hotel, Loews Madison Hotel and forthcoming Loews Chicago Hotel are all significant strategic additions as we expand our brand,” said Paul Whetsell, President & CEO of Loews Hotels & Resorts. “We will continue to grow and have a presence in key cities and markets that cater to our loyal business travellers and leisure guests.”
