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 & Co. Hospitality Company is rooted in deep heritage in the hotel industry and excellence in service. The hospitality group encompasses branded independent Loews Hotels, and a solid mix of partner-brand hotels. Loews Hotels & Co. owns and/or operates 24 hotels and resorts across the U.S. and Canada, including Hotel 1000 in downtown Seattle and the Loews Sapphire Falls Resort at Universal Orlando, the fifth hotel in partnership with Comcast NBC Universal. Located in major city centers and resort destinations from coast to coast, the Loews Hotels portfolio features properties grounded in family heritage and dedicated delivering unscripted guest moments all with a handcrafted approach. For reservations or more information about Loews Hotels, call 1-800-23-LOEWS or visit: www.loewshotels.com.