Loews Breaks Ground on Orlando Resort
Thursday January 10th, 2013 - 12:07AM
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NEW YORK, NY—Loews Hotels & Resorts, a wholly owned subsidiary of Loews Corporation, based here, in conjunction with Universal Parks & Resorts, has broken ground on Universal’s Cabana Bay Beach Resort.
The property will be owned in a joint venture with affiliates of Universal Parks & Resorts and Loews Hotels & Resorts. It is scheduled to open in 2014.
“The Orlando resort market and our partners at Universal are a fundamental part of our business,” said Jonathan Tisch, chairman of Loews Hotels & Resorts, in a statement. “Universal Orlando is a beloved family destination and this new development will allow more families to enjoy the attractions and experience the unique theme parks.”
Paul Whetsell, president/CEO of Loews Hotels & Resorts, added to the staement: “Universal’s Cabana Bay Beach Resort project is a key component in our development plans. Our partnership with Universal is integral to our growth as we strategically expand Loews Hotels.”
The resort will offer 900 family suites, which include kitchen areas, and 900 standard guestrooms. It is located on a 37-acre site within Universal Orlando Resort and adjacent to Universal’s Islands of Adventure.
Tags: Hospitality Construction/Renovation
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.