Loews Hotels & Resorts Breaks Ground on Universal`s Cabana Bay Beach Resort

Thu Jan 10, 2013 11:33am EST

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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
lanton@loewshotels.com
or
Sarah Murov, 212-521-2495
smurov@loewshotels.com




Copyright Business Wire 2013
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