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| Paul Whetsell |
NEW YORK, NY — Loews Hotels & Resorts, a wholly
owned-subsidiary of Loews Corporation (NYSE: L), announced that the company
completed the acquisition of the 255-room Graves 601 Hotel Wyndham Grand.
Located at the
center of the business, theatre and entertainment districts in the heart of
downtown Minneapolis, the former Graves Hospitality property has immediately
been converted to the Loews Hotels brand. Loews Hotels plans an approximate $7
million renovation scheduled to begin in early 2015.
“The Loews Minneapolis is a great addition to the Loews portfolio,”
said Paul Whetsell, President & CEO of Loews Hotels &
Resorts.
“There are exciting new
developments in Minneapolis including the Block E area, and having our hotel in
such a key Midwestern destination is a tremendous plus for the growth of our brand. The property is in great physical condition,
with the renovation targeted to further enhance the guest experience.”
This addition is part of Loews Hotels & Resorts
expanding their footprint in the Midwest.
Loews recently announced the purchase of the 556-room InterContinental
Chicago O’Hare Hotel, expected to close at the end of the month, along with the
addition of Loews Chicago, a 400-room new build hotel, located downtown which
will open in February 2015. Loews
Hotels continues to add properties in gateway cities and resort destinations.
For a complete copy of the company’s news release, please
contact:
Loews Hotels & Resorts
Sarah Murov
(212) 521-2495
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