Loews Hotels Commits $500M To New Acquisitions

Law360, New York (January 20, 2012, 7:36 PM EST) -- Under the direction of its new CEO, Loews Hotels & Resorts has set aside $500 million to buy existing hotels and acquire new properties in Chicago, Boston, Toronto and other major urban centers, the company said Friday.

Paul W. Whetsell, who officially joined the company Tuesday, is leading the “aggressive pursuit” of new opportunities in order to expand Loews' presence in key urban markets and become more attractive to business travelers and those seeking resort-style experiences.

“Loews has a long tradition of owning and operating high-quality...
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