Hotel Online
News for the Hospitality Executive


advertisement



Loews Hotels & Resorts and DRW Trading Group Celebrate Groundbreaking
for the Loews Chicago Hotel

The 400-room Hotel will Open in Illinois in 2015

NEW YORK, NY (March 4, 2013) — Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today held a ceremonial groundbreaking in Chicago on the site where the company will open the Loews Chicago Hotel in 2015.

Jonathan M. Tisch, Chairman of Loews Hotels & Resorts and President and CEO of Loews Hotels & Resorts, Paul Whetsell were joined by Donald R. Wilson, Jr., Founder and CEO of DRW Trading Group (DRW) and the Honorable Mayor of Chicago Rahm Emanuel at the ceremony.

“Today marks a special day as we officially break ground on the Loews Chicago Hotel and become a member of this community,” said Jonathan Tisch.  “This property, once completed, will be a wonderful addition to our portfolio and the Chicago skyline!”

“Even with Chicago’s hotel occupancy at a record high last year, companies continue to build more hotel stock as more and more tourists, business travelers and conventions are flocking to Chicago,” said Mayor Emanuel.  “I am pleased to see this hotel rise from the ground, creating hundreds of jobs, and setting up Chicago to continue its growth as one of the premiere destinations in the entire United States.”

Currently being developed by DRW and designed by the architectural firm Solomon Cordwell Buenz, 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, a spa/fitness center and an outdoor rooftop including a pool overlooking the city.  The hotel will be part of a highly visible 52-story tower comprised of the Loews Chicago Hotel and 398 luxury residential apartments.

“We are excited to partner with Loews in designing and delivering a hotel and residential product.  The apartment and hotel combination will be a benefit to one another; offering amenities to residents that set us apart from the current market,” said Donald R. Wilson, Jr.

The addition of the Chicago property is part of the company’s strategy to add substantially to its portfolio of hotels over the next five years.  Loews Hotels & Resorts continues to seek hotel additions in gateway cities and resort destinations and anticipates announcing additional Loews properties in the coming months.

Loews Hotels & Resorts
Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 19 hotels and resorts in the U.S. and Canada including the newly acquired Loews Madison Hotel located in the heart of Washington at the epicenter of legendary D.C. landmarks and the Loews Boston Back Bay Hotel, one of Boston’s preeminent historic buildings, situated on the corner of Berkeley and Stuart Streets. 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

About DRW Trading Group
DRW Holdings was founded in 1992 by Donald R. Wilson, Jr., as a proprietary trading firm specializing in market-making.  The firm has grown by empowering a team of exceptional individuals to identity and capture trading opportunities in the global markets by leveraging and integrating technology, risk management and quantitative research.  Since its founding, Mr. Wilson has added 10 partners and currently has over 500 employees with headquarters in Chicago and offices in New York and London.  DRW created its real estate Group in 2009 to take advantage of opportunistic investments when developers were unable to raise capital from lenders or traditional sources of financing.  DRW is committed to making real estate a key component of its expanding portfolio of fundamental investments.

Contact:

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

Sunshine Sachs
Jaclyn Rutigliano
(212) 691-2800
rutigliano@sunshinesachs.com


.
Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here 

To Learn More About Your News Being Published on Hotel-Online Inquire Here
 
Also See: Loews Hotels & Resorts Promotes Constantine S. Dimas to Senior Vice President of Asset Management / February 2013

Loews Hotels & Resorts Promotes Troy Furbay to Chief Investment Officer / February 2013

Loews Hotels & Resorts Completes Acquisition and Rebranding of The Back Bay Hotel in Boston; The 225-room Property will Undergo an $8 Million Renovation / February 2013

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 / January 2013

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
.

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome| Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.