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| InterContinental Chicago O'Hare Hotel |
NEW YORK, NY (June 30, 2014) – 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 556-room InterContinental
Chicago O’Hare Hotel. The
acquisition is expected to close in late July.
The InterContinental
Chicago O’Hare will be the second hotel for Loews in the Chicago area and the
third new hotel in the Midwest.
Earlier this month, the company announced an agreement to
purchase the Graves 601 Hotel in Minneapolis. Loews Chicago, a 400-room new
build hotel, located downtown, will debut in February 2015.
This is all part of Loews Hotels’ goal to add substantially
to its portfolio of hotels over the next few years. The company continues to
add properties in gateway cities and resort destinations.
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| Jonathan Tisch |
“The Midwest is an
area where we were looking to increase our presence,” said Jonathan Tisch,
Chairman, Loews Hotels & Resorts.
“Adding the Loews Chicago O’Hare to our portfolio allows us to offer two
Loews experiences in the Chicago area, one in the booming area of Rosemont, IL,
and one downtown with the new Loews Chicago Hotel opening in early 2015.”
Located less than
two miles from O’Hare Airport and just 13 miles from downtown Chicago, the
InterContinental Chicago O’Hare is across the street from the Donald E.
Stephen’s Convention Center, adjacent to the newly opened Fashion Outlets of
Chicago and a couple blocks from the Rosemont Entertainment district.
The hotel features three restaurants and bars, more than
53,000 square feet of meeting and event space, and a curated art gallery.
“Loews Hotels has a strong reputation in the group meetings
and conventions market and is known for delivering excellent customer service
to our hotels,” said Paul Whetsell, President & CEO, Loews Hotels
& Resorts. “We look forward to
bringing that expertise and stellar service to guests and meeting attendees
visiting this hotel.”
For a complete copy of the company’s news release, please
contact:
Sarah Murov
Loews Hotels & Resorts
(212) 521-2495
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