http://www.hospitalitynet.org/news/1...0/4059696.html
Loews Hotels & Resorts and DRW Trading Group Hold Ceremonial Groundbreaking for Loews Chicago Hotel
Hospitality Net - March 4, 2013
Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today held a ceremonial groundbreaking in Chicago on the site where the company will open the Loews Chicago Hotel in 2015.
"We are excited to partner with Loews in designing and delivering a hotel and residential product. The apartment and hotel combination will be a benefit to one another; offering amenities to residents that set us apart from the current market"
Jonathan M. Tisch, Chairman of Loews Hotels & Resorts and President and CEO of Loews Hotels & Resorts, Paul Whetsell were joined by Donald R. Wilson, Jr., Founder and CEO of DRW Trading Group (DRW) and the Honorable Mayor of Chicago Rahm Emanuel at the ceremony.
Currently being developed by DRW and designed by the architectural firm Solomon Cordwell Buenz, the Loews Chicago Hotel will feature 400 guestrooms, including 36 suites, a signature restaurant, more than 25,000 square feet of innovative meeting space, multiple outdoor terraces, a spa/fitness center and an outdoor rooftop including a pool overlooking the city. The hotel will be part of a highly visible 52-story tower comprised of the Loews Chicago Hotel and 398 luxury residential apartments.
"We are excited to partner with Loews in designing and delivering a hotel and residential product. The apartment and hotel combination will be a benefit to one another; offering amenities to residents that set us apart from the current market," said Donald R. Wilson, Jr.
The addition of the Chicago property is part of the company's strategy to add substantially to its portfolio of hotels over the next five years. Loews Hotels & Resorts continues to seek hotel additions in gateway cities and resort destinations and anticipates