Thursday, January 10, 2013

Loews Hotels & Resorts Breaks Ground on Universal’s Cabana Bay Beach Resort in Orlando, FL


Cabana Bay Beach Resort rendering, Orlando, FL

NEW YORK, NY (Jan. 10, 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. 

Jonathan Tisch
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.”

Paul Whetsell
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.”

For a complete copy of the company’s news release, please contact:

Loews Hotels & Resorts
Lark-Marie Anton                                                                     
(212) 521-2779                                                                      


Sarah Murov
(212) 521-2495

Chris Daly
President
Daly Gray, Inc.
Ph: 703-435-6293
Cell: 703-864-5553

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