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| Loews Chicago Hotel rendering |
NEW YORK, NY (March 1, 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.
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| Jonathan M. Tisch |
“Today marks a
special day as we officially break ground on the Loews Chicago Hotel and become
a member of this community,” said 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 Rahm 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.”
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| Chicago Mayor Rahm Emanuel |
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.
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| Donald R. Wilson Jr. |
“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.
For a complete
copy of the company’s news release, please contact:
Loews Hotels & Resorts
Lark-Marie Anton / Sarah Murov
(212) 521-2779 / (212) 521-2495
Sunshine Sachs
Jaclyn Rutigliano
(212) 691-2800
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Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels
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