Loews Hotels & Resorts Completes Acquisition of The Graves 601 Hotel
July 8, 2014 - Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company completed the acquisition of the 255-room Graves 601 Hotel Wyndham Grand.
Located at the center of the business, theatre and entertainment districts in the heart of downtown Minneapolis, the former Graves Hospitality property has immediately 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," said Paul Whetsell, President & 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 their 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. Loews Hotels continues to add properties in gateway cities and resort destinations.
Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 21 hotels and resorts in the U.S. and Canada, including the newly acquired Loews Madison Hotel located in the heart of Washington at the epicenter of legendary D.C. landmarks and the Loews Boston Hotel, one of Boston's preeminent historic buildings, situated on the corner of Berkeley and Stuart Streets.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
