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Loews Agrees to Buy InterContinental

CHICAGO—This is the second property picked up by the New York-based company in the Chicago area and the third in the Midwest.

By Brian J. Rogal | Updated on July 02, 2014

CHICAGO—Loews Hotels & Resorts, a wholly owned subsidiary of Loews Corp. has entered into an agreement to purchase the 556-room InterContinental Chicago O’Hare Hotel at 5300 N. River Rd. in suburban Rosemont. Company officials say they expect the acquisition to close in late July.

Loews will then have two hotels in the Chicago area and three in the Midwest. As reported in GlobeSt.com, in June Loews entered into an agreement to purchase the Graves 601 Hotel in Minneapolis. And Loews Chicago, a new 400-room downtown hotel, will debut in February 2015. Loews plans to acquire other hotels over the next few years and continues to scout properties in gateway cities and resort destinations.

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