Loews Hotels & Resorts Focuses on Growth with New Leadership
More Than $500 Million in Discretionary Capital Committed to Acquisition and Development
JanuarLoews Hotels & Resorts has a newly affirmed commitment to growth with more than $500 million in discretionary capital committed to the acquisition of existing hotels and the development of new properties.
President and CEO, Paul Whetsell who recently joined the company, will be leading the effort as Loews is focusing on key urban markets and top-tier resort destinations ideally suited to discerning business travelers and pleasure seekers.
"We will be aggressive in our pursuit of new and existing hotel and resort properties to grow our portfolio," said Whetsell. "Loews has a long tradition of owning and operating high-quality properties and delivering great guest experiences. Our objective is to further develop the brand while producing superior financial operating results for our owners and investors."
"Loews is seeking 4-5 star quality full-service hotel assets and portfolios including group-oriented urban hotels, commercial transient urban hotels and destination resorts," said Troy Furbay, Executive Vice President, Acquisitions & Development. "We are currently targeting cities such as Chicago, Boston, Washington DC, San Francisco, Dallas, Seattle, New York and Toronto, as well as top-tier sun, ski and golf resort destinations."
Loews also holds significant capital for joint ventures, incentive capital and new developments in primary and secondary markets.
Headquartered in New York City, Loews Hotels &Resorts owns and/or operates 18 hotels and resorts in the U.S. and Canada, including its newest, the 414-room Loews Atlanta Hotel that opened April 1, 2010.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
