Loews to Open Chicago Hotel
Tuesday January 15th, 2013 - 9:20AM
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CHICAGO—Loews Hotels & Resorts will open a new property here in 2015.
The hotel is being developed by Chicago-based DRW Trading Group (DRW) and designed by the architectural firm Solomon Cordwell Buenz.
The Loews Chicago Hotel will feature 400 guestrooms, including 36 suites, a signature restaurant, more than 25,000 sq. ft. of meeting space, multiple outdoor terraces for guest and function uses, spa/fitness center and an outdoor rooftop area, including a pool overlooking the city.
The site is located one block north of the Chicago River and two blocks east of North Michigan Ave. The hotel will be part of a 52-story tower comprised of the Loews Chicago Hotel and 390 luxury residential apartments.
The Chicago hotel will follow another new build, the 1,800-room Cabana Bay Beach Resort at Universal Orlando, expected to open in 2014. Cabana Bay Beach Resort is the fourth hotel in partnership with Universal Parks & Resorts, and is one of the largest hotels being built in the United States at the present time.
The addition of the Chicago and Orlando properties is part of the company’s strategy to add substantially to its portfolio of hotels over the next five years.
Tags: Hospitality Ownership
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.