Loews Hotels & Resorts Breaks Ground on Universal`s Cabana Bay Beach Resort
* Reuters is not responsible for the content in this press release.
http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130110:nBw105913a Hotel Development is one of the Largest Hotel Construction Projects in the United States NEW YORK--(Business Wire)-- Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company and Universal Parks & Resorts have broken ground on Universal`s Cabana Bay Beach Resort, currently one of the largest hotels under construction in the United States. The property will be owned in a joint venture with affiliates of Universal Parks & Resorts and Loews Hotels & Resorts. Universal`s Cabana Bay Beach Resort is scheduled to open in 2014. Universal`s Cabana Bay Beach Resort will offer 900 family suites, which include kitchen areas and 900 standard guest rooms - offering both moderate and value-priced accommodations. It is located on a 37-acre site within Universal Orlando Resort and adjacent to Universal`s Islands of Adventure. "The Orlando resort market and our partners at Universal are a fundamental part of our business," said Jonathan Tisch, Chairman of Loews Hotels & Resorts. "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." Loews Hotels & Resorts` plans for the new Orlando hotel development follow the announcement of its most recent hotel acquisition, the 356-room Madison Hotel in the heart of Washington, D.C. Universal`s Cabana Bay Beach Resort is the fourth hotel in partnership with Universal Parks & Resorts. "Universal`s Cabana Bay Beach Resort project is a key component in our development plans," said Paul Whetsell, President and CEO of Loews Hotels & Resorts. "Our partnership with Universal is integral to our growth as we strategically expand Loews Hotels." The addition of the Washington, D.C. and Orlando properties is part of the company`s growth strategy to add substantially to its portfolio of hotels over the next five years. Loews Hotels & Resorts continues to target hotel additions in gateway cities and resort destinations and expects to announce additional new Loews properties in the coming months. About Loews Hotels & Resorts Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 18 hotels and resorts in the U.S. and Canada including the Loews Hollywood Hotel located adjacent to the Hollywood & Highland Center. The hotel features 632 guestrooms, including 113 suites and over 120,000-square-feet of meeting space. Located in major city centers and resort destinations in North America from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience. For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: www.loewshotels.com. Like Loews Hotels & Resorts on Facebook: www.facebook.com/LoewsHotels Follow Loews Hotels & Resorts on Twitter: www.twitter.com/loews_hotels Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels Loews Hotels & Resorts Lark-Marie Anton, 212-521-2779 firstname.lastname@example.org or Sarah Murov, 212-521-2495 email@example.com Copyright Business Wire 2013
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- CEOs of biggest Russian firms could be hit by sanctions: paper |
- Kremlin website hit by 'powerful' cyber attack
- Search for Malaysian plane may extend to Indian Ocean - U.S |