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| Mandarin Oriental San Francisco Hotel, situated atop 11 floors of San Francisco's third tallest building |
NEW YORK, NY (Feb. 17, 2015) – Loews Hotels & Resorts, a
wholly owned subsidiary of Loews Corporation (NYSE:L), today announced that it
has entered into an agreement to purchase the 158-room Mandarin Oriental San
Francisco Hotel. The acquisition is expected to close in late March.
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| Paul Whetsell |
“This will be our first entree into San Francisco, a major
gateway market and a very important location for Loews Hotels’ core customer
base,” said Paul Whetsell, President & CEO of Loews Hotels &
Resorts.
“We have been exploring
opportunities to enter the San Francisco market for some time, so we are
thrilled to add such a respected five-star hotel to our growing brand.”
Located in the heart of San Francisco’s Financial District,
the hotel, which is currently managed by Mandarin Oriental Hotel Group, is
situated on the top 11 floors of San Francisco’s third-tallest office building,
showcasing uninterrupted views of San Francisco and its bay.
The hotel features158 guest rooms, the Brasserie S&P
restaurant, over 5,000 square feet of meeting space and a new 8,000 square foot
spa and fitness center.
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| Brasserie S&P Restaurant, San Francisco, CA |
This elegant property is the seventh addition to the Loews
Hotels portfolio announced in the last two and one-half years.
Loews Hotels will open the 400-room Loews
Chicago Hotel on March 2nd and continues to seek to grow its brand in gateway
cities and resort destinations.
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Read our Wish You Were Here Blog at www.loewshotelsblog.com
For a complete copy of the company’s news release, please
contact:
Sarah Murov
Loews Hotels & Resorts
(212) 521-2495
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