MINNEAPOLIS—Loews Hotels & Resorts, a wholly owned subsidiary of Loews Corporation, has completed the acquisition of the 255-room Graves 601 Hotel Wyndham Grand here.
Located within the business, theater and entertainment districts in downtown Minneapolis, the former Graves Hospitality property has been converted to the Loews Hotels brand. Loews Hotels plans an approximate $7-million renovation scheduled to begin in early 2015.
“The Loews Minneapolis is a great addition to the Loews portfolio,” stated Paul Whetsell, president and CEO of Loews Hotels & Resorts. “There are exciting new developments in Minneapolis including the Block E area, and having our hotel in such a key Midwestern destination is a tremendous plus for the growth of our brand. The property is in great physical condition, with the renovation targeted to further enhance the guest experience.”
This addition is part of Loews Hotels & Resorts expanding its footprint in the Midwest. Loews recently announced the purchase of the 556-room InterContinental Chicago O’Hare Hotel, expected to close at the end of the month, along with the addition of Loews Chicago, a 400-room new-build hotel located downtown, which will open in February 2015.