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Loews Hotels & Resorts to Purchase The Back Bay Hotel in Boston
from The Doyle Collection

The Acquisition of the 225-room Hotel is Expected to Close in February 2013

NEW YORK, NY (January 22, 2013)
— 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.”

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.

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 & Resorts
Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 18 hotels and resorts in the U.S. and Canada including the Loews Hollywood Hotel located adjacent to the Hollywood & Highland Center. The hotel features 632 guestrooms, including 113 suites and over 120,000-square-feet of meeting space.  Located in major city centers and resort destinations in North America from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience.  For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: www.loewshotels.com

Like Loews Hotels & Resorts on Facebook: www.facebook.com/LoewsHotels
Follow Loews Hotels & Resorts on Twitter: www.twitter.com/loews_hotels
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Contact:

Lark-Marie Antón / Sarah Murov
Loews Hotels & Resorts
(212) 521-2779 / (212) 521-2495
lanton@loewshotels.com / smurov@loewshotels.com


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Also See: Loews Hotels & Resorts and DRW Trading Group Begin Developement of the 400-room Loews Chicago Hotel; A January 2015 Opening is Planned / January 2013

Loews Hotels & Resorts and Universal Parks & Resorts Break Ground on Universal’s Cabana Bay Beach Resort; A 2014 Opening is Planned for the 900-key Property within the Universal Orlando Resort in Florida / January 2013

Loews Hotels & Resorts and MetLife Form Joint Venture in the Ownership of the 632-room Loews Hollywood Hotel in Los Angeles, California / December 2012

Loews Hotels & Resorts to Purchase the 356-room Madison Hotel in Washington, D.C. from Jamestown Properties; The Acquisition Closes in January 2013 / December 2012

Loews Hotels & Resorts Promotes David Wiener to Senior Vice President, Sales / November 2012

Jonathan M. Tisch, Chairman of Loews Hotels & Resorts, Calls on Policy Leaders to “Rise to the Challenge” and Build World-Class U.S. Infrastructure / October 2012

Loews Hotels & Resorts, Through Coordinated Effort With U.S. Department Of Homeland Security, Becomes First Brand to Offer Complimentary Enrollment to Global Entry and TSA PreCheck™ Program for its Elite Loyalty Members / September 2012

Universal Parks & Resorts and Loews Hotels & Resorts to Build On-Site Hotel Development at Universal Orlando; Scheduled for a 2014 Opening, The Cabana Bay Beach Resort will Include 900 Family Suites and 900 Standard Guest Rooms / July 2012

Loews Hotels & Resorts to Acquire the 632-room Renaissance Hotel & Spa in Hollywood, California from CIM Group; To Rebrand as the Loews Hollywood Hotel and Begin $26 Million Renovation in Late 2012 with Completion in Summer 2013 / June 2012

Shawn Hauver Named Vice President of Operations for Loews Hotels & Resorts / May 2012

Mark L. Ching Appointed as Executive Chef for the 440-room Loews Coronado Bay in San Diego, California / April 2012

Loews Coronado Bay in San Diego, California Appoints John Annicchiarico as Director of Marketing and Javaud Mushtaq as Director of Sales / April 2011

Loews Hotels Names Lark-Marie Antón as Vice President of Public Relations / January 2011

Loews Hotels Appoints Troy Furbay as Executive Vice President of Acquisitions & Developments / November 2010

Loews Hotels Appoints Debbie Castillo to Vice President of Hotel Sales / July 2010

Loews Santa Monica Beach Hotel Promotes Penny Vacanti to National Sales Manager / February 2009

Debi L. Besmer Named Director of Marketing at Loews Coronado Bay Resort / March 2005

Loews Hotels the Winning Bidder at a Court-Ordered Auction for the 440-room Loews Coronado Bay Resort / Dec 1999
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