Loews Hotels & Resorts Purchases The Back Bay Hotel in Boston
Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company has entered into an agreement to purchase The Back Bay Hotel in Boston from The Doyle Collection. The acquisition is expected to close in February 2013. "Boston is one of the most vibrant markets in the U.S., and an excellent city for a Loews property," said Jonathan Tisch, Chairman of Loews Hotels & Resorts. "This one-of-a-kind, historic hotel is a unique addition to our growing portfolio."
The announcement of The Back Bay Hotel in Boston follows the news of another recent acquisition, the iconic 356-room Madison Hotel in the heart of Washington, D.C. The Loews portfolio will now include 21 hotels, including two under construction in Orlando and Chicago.
"The Back Bay Hotel is a strategic addition 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 travelers and leisure guests."
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.
About Loews Hotels
Headquartered in New York City, Loews Hotels has three distinct brands, Loews Hotels & Resorts, Loews Regency and OE Collection. The company owns and/or operates 25 hotels and resorts across the U.S. and Canada, including the newly-acquired Hotel 1000 in downtown Seattle that will be re-branded into a Loews Regency in 2017. Loews Sapphire Falls Resort at Universal Orlando, the fifth hotel in partnership with Comcast NBC Universal, opened in July 2016. Located in major city centers and resort destinations from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with exciting, approachable and local travel experiences. For reservations or more information about Loews Hotels, call 1-800-23-LOEWS or visit: www.loewshotels.com.