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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


NEW YORK, NY (January 11, 2013) — Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company and Universal Parks & Resorts have broken ground on Universal’s Cabana Bay Beach Resort, currently one of the largest hotels under construction in the United States.  The property will be owned in a joint venture with affiliates of Universal Parks & Resorts and Loews Hotels & Resorts.  Universal’s Cabana Bay Beach Resort is scheduled to open in 2014.

Universal’s Cabana Bay Beach Resort will offer 900 family suites, which include kitchen areas and 900 standard guest rooms – offering both moderate and value-priced accommodations.  It is located on a 37-acre site within Universal Orlando Resort and adjacent to Universal’s Islands of Adventure.

“The Orlando resort market and our partners at Universal are a fundamental part of our business,” said Jonathan Tisch, Chairman of Loews Hotels & Resorts.  “Universal Orlando is a beloved family destination and this new development will allow more families to enjoy the attractions and experience the unique theme parks.”

Loews Hotels & Resorts’ plans for the new Orlando hotel development follow the announcement of its most recent hotel acquisition, the 356-room Madison Hotel in the heart of Washington, D.C.  Universal’s Cabana Bay Beach Resort is the fourth hotel in partnership with Universal Parks & Resorts.

“Universal’s Cabana Bay Beach Resort project is a key component in our development plans,” said Paul Whetsell, President and CEO of Loews Hotels & Resorts.  “Our partnership with Universal is integral to our growth as we strategically expand Loews Hotels.”

The addition of the Washington, D.C. and Orlando properties is part of the company’s growth strategy to add substantially to its portfolio of hotels over the next five years.  Loews Hotels & Resorts continues to target hotel additions in gateway cities and resort destinations and expects to announce additional new Loews properties in the coming months.

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
Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels

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 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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