LOEWS PREPARES FOR GROWTH

At Loews Hotels, growth has traditionally been done in slow, measured steps. The 18-property chain is about to kick it up a notch with an expansion initiative that aims to add units in strategic markets and locations.

“If you look at a map it's easy to see in which markets we don't have hotels,” says Jack Adler, president & CEO. “While many upscale brands have multiple properties in a given market, our philosophy is to have one major and unique hotel in each of the cities where we want to be.”

For now the growth focus is on North America, and the wish list includes San Francisco, Chicago, Boston, Atlanta, Vancouver, Seattle and Toronto, as well as some second-tier cities and resort locations, such as in Mexico. The company hopes to consummate two to four deals a year — some on its own, some with partners and some as management deals.

Before launching the new growth initiative, the company took steps to strengthen the brand. It shed a few properties — the Metropolitan in New York City and the Loews L'Enfant Plaza — that no longer fit the brand profile. Others, such as the Loews Coronado Bay in San Diego and the Loews Ventana Canyon in Tucson, got facelifts. The chain added The Madison, a landmark Washington, DC property, to the fold and announced the development of a 400-room resort at Lake Las Vegas in Nevada.

However, the biggest change was a beefing up of the Loews management team with the hiring of several operations executives and several in development, including new Executive Vice President of Acquisitions and Development Glyn Aeppel.

Why the traditional slow-growth policy in the past? “Our company's philosophy has always been to find the right deals that fit with the other hotels in our portfolio and that produce good returns for the parent company and our partners. That hasn't changed,” says Adler.

Reprints and Licensing
© 2014 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Most Recent

More Recent Articles

Career Center

Quick Job Search
Enter Keyword(s):
Enter a City:

Select a State:

Select a Category:



http://lhonline.com/images/bulk_tv_logo.jpg
Franchise Fact File Top Brands
Brand Company Basics Top Management Companies
Owners & Operators Industry Consultants
Industry Associations Industry Events
Design Firms Purchasing Companies
Top Ownership Groups  


http://lhonline.com/images/bulk_tv_logo.jpg

Click here to view all of the Lodging Hospitality Photo Galleries



Accor Best Western
Carlson Rezidor Choice
Hilton Hyatt
IHG La Quinta
Marriott Starwood
Vantage Wyndham







Free Product Information
News and Trends for the Hotel, Motel, and Hospitality Markets.

Lodging Hospitality eReport
Lodging Hospitality electronic newsletters are FREE to requested subscribers.

Lodging Hospitality Resource Center
The Lodging Hospitality Resource Center is the ultimate resource to find products and services to build, equip, and renovate hotels, motels and resorts.

Subscribe / Renew
Visit our subscription center to subscribe or renew your subscription to Lodging Hospitality.

Webinars
Visit our webinars page to view all our upcoming and on demand webinars.

Whitepapers
Visit our White Papers page to view all our current White Papers.