Monday December 3rd, 2012 - 10:42AM
NEW YORK—Loews Hotels & Resorts, a subsidiary of Loews Corporation, will purchase the 356-room Madison Hotel in Washington, DC from Jamestown Properties. The acquisition will close in January of next year.
“The Madison completed a dramatic $23-million renovation in 2012,” Paul Whetsell, president & CEO, Loews Hotels & Resorts, said in a statement. “We expect that the hotel’s quality, coupled with the addition of the Loews brand, will give us a strong competitive position in the D.C. market.”