BOSTON-Hot on the heels of its purchase of the Madison Hotel in Washington, DC, Loews Hotels & Resorts has entered an agreement to grab Boston's 225-room Back Bay Hotel. The Doyle Collection currently owns the hotel property and the transaction is expected to be complete by February this year.
According to a release from the company, this acquisition is part of a greater strategy to add to its portfolio over the next five years, with a focus on gateway cities and resort destinations. Of the market, Jonathan Tisch, chairman of Loews Hotels & Resorts, says in a statement: “Boston is one of the most vibrant markets in the US, and an excellent city for a Loews property. This one-of-a-kind, historic hotel is a unique addition to our growing portfolio.”
The Back Bay Hotel is located at the corner of Berkeley and Stuart streets and was originally the Boston Police Department's headquarters when it was built in the 1920s. The purchase price was not disclosed at press time.
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