Loews Hotels & Resorts Purchases the 398-room Loews Ventana Canyon Resort in Tucson, Arizona

To Launch Multi-Million Dollar Renovation in 2015

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. November 06, 2014

NEW YORK - November 6, 2014 - Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company completed the purchase of the of the 398-room Loews Ventana Canyon Resort, which has been managed by Loews Hotels since its opening in December 1984. Tucson's Estes family will retain a minority ownership position in the resort.

Located in the Catalina Mountain range in the Sonoran Desert, Loews Ventana Canyon Resort has been highly regarded by locals, guests and meeting planners since its inception, receiving numerous awards and accolades. Beginning in 2015, the resort will undergo a significant renovation to enhance the overall guest experience and maintain its presence in the Tucson marketplace.

"Loews Ventana Canyon Resort was the first hotel I developed from start to finish when I returned to Loews Hotels in the early eighties," said Jonathan Tisch, Chairman, Loews Hotels & Resorts. "Conceptualized and built almost 30 years ago, the Estes Company and Loews Hotels created an iconic resort that is still very much a part of the Tucson landscape and a classic property within our brand. We look forward to containing the partnerships with the Estes family and the city of Tucson as we launch the next exciting phase of the resort."

Loews Hotels & Resorts continues to add properties in gateway cities and resort destinations. This summer the company announced the acquisitions of the Loews Minneapolis Hotel (formerly Graves 601 Hotel) and the Loews Chicago O'Hare Hotel (formerly InterContinental Chicago O'Hare Hotel.) In addition, the Loews Chicago Hotel, a 400-room new build hotel, located in downtown Chicago, will open in March 2015.

About 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 February 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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About Loews Ventana Canyon Resort

The 398-guestroom Loews Ventana Canyon Resort in Tucson is a warm weather, nature lover's paradise that offers a little something for everyone. From our beautiful Window Walk nature trail and quick access to Ventana Trail and Sabino Canyon for hiking to our 80-foot natural waterfall, 36 holes of Tom Fazio golf and award-winning Lakeside Spa, guests can experience relaxation and adventure all in one place. Enjoy upscale, regional cuisine with a view at the Flying V Bar & Grill, or join us for one of our popular Beer Garden BBQ Dinners, Tequila Dinners or Blues, Brews & BBQ Brunch, which won the 2014 Open Table Diners' Choice Award for Top 100 Best Brunch Restaurants in America. In 2014 the resort was named one of the World's Best Hotels for Families by Travel & Leisure and the #1 Most Romantic Hotel in Tucson by USA Today.