NEW YORK—Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation, announced that the company has entered into an agreement to purchase The Back Bay Hotel in Boston from The Doyle Collection. The acquisition is expected to close in February 2013.
“Boston is one of the most vibrant markets in the U.S., and an excellent city for a Loews property,” said Jonathan Tisch, chairman of Loews Hotels & Resorts. “This one-of-a-kind, historic hotel is a unique addition to our growing portfolio.”
The Back Bay Hotel is one of Boston’s preeminent historic buildings. Originally constructed in the 1920s as the Boston Police Department Headquarters and occupied as such until the late 1990s, the property was extensively redeveloped in 2004. The property features 225 guestrooms, meeting and event space, as well as two dining options, Cuffs, an Irish Bar and The Stanhope Grille.
The announcement of The Back Bay Hotel in Boston follows the news of another recent acquisition, the 356-room Madison Hotel in the heart of Washington, D.C. The Loews portfolio will now include 21 hotels, including two under construction in Orlando and Chicago.
“The Back Bay Hotel is a strategic addition as we expand our brand,” said Paul Whetsell, president & CEO of Loews Hotels & Resorts. “We will continue to grow and have a presence in key cities and markets that cater to our loyal business travelers and leisure guests.”
Loews Hotels & Resorts continues to seek hotel additions in gateway cities and resort destinations as part of the company’s strategy to add substantially to its portfolio of hotels over the next five years.