Market Overview

Loews' Hotels & Resorts Unit Agrees to Buy The Madison Hotel

Share:
Related L
Earnings Scheduled For May 4, 2015
Whitney Tilson Thinks Lumber Liquidators Should Have Known Better

Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company has entered into an agreement to purchase the iconic, 356-room Madison Hotel in the heart of Washington, D.C. from Jamestown Properties. The acquisition closes in January, 2013.

The Madison marks the second major hotel purchase announced by Loews Hotels this year, as part of the goal to add substantially to its portfolio of hotels over the next five years. The hotel company continues to aggressively seek hotel additions in gateway cities and resort destinations and expects to announce additional new Loews properties in the coming months.

Posted-In: News M&A

 

Related Articles (L)

Around the Web, We're Loving...

Get Benzinga's Newsletters