NEW YORK, Feb. 17, 2015 /PRNewswire/ -- 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.
"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.
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.
Loews Hotels &
Resorts
Headquartered in New York City,
Loews Hotels & Resorts owns and/or operates 23 hotels and
resorts across the U.S. and Canada, including two newly acquired Midwest
locations - the Loews Minneapolis Hotel, situated in the heart of
Minneapolis' entertainment
district, and the Loews Chicago O'Hare Hotel, less than two miles
from O'Hare Airport in the emerging city of Rosemont, Ill. The new-build, 400-room Loews
Chicago Hotel will debut downtown in March
2015. Located in major city centers and resort destinations
from coast to coast, the Loews portfolio features one-of-a-kind
properties that go beyond Four Diamond standards to delight guests
with exciting, approachable and local travel experiences. For
reservations or more information about Loews Hotels & Resorts,
call 1-800-23-LOEWS or visit: www.loewshotels.com.
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SOURCE Loews Hotels & Resorts