Loews Hotels & Resorts Purchases The Back Bay Hotel in Boston

  Loews Hotels & Resorts Purchases The Back Bay Hotel in Boston

Business Wire

NEW YORK -- January 22, 2013

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 Back Bay Hotel in Boston from The Doyle Collection. The acquisition is
expected to close in February 2013.

“Boston is one of the most vibrant markets in the U.S., and an excellent city
for a Loews property,” said Jonathan Tisch, Chairman of Loews Hotels &
Resorts. “This one-of-a-kind, historic hotel is a unique addition to our
growing portfolio.”

Situated on the corner of Berkeley and Stuart Streets, The Back Bay Hotel is
one of Boston’s preeminent historic buildings. Originally constructed in the
1920s as the Boston Police Department Headquarters and occupied as such until
the late 1990s, the property was extensively redeveloped in 2004. This
downtown Boston landmark features 225 spacious guestrooms, modern amenities,
meeting and event space as well as two dining options, Cuffs, an Irish Bar and
The Stanhope Grille.

The announcement of The Back Bay Hotel in Boston follows the news of another
recent acquisition, the iconic 356-room Madison Hotel in the heart of
Washington, D.C. The Loews portfolio will now include 21 hotels, including two
under construction in Orlando and Chicago.

“The Back Bay Hotel is a strategic addition as we expand our brand,” said Paul
Whetsell, President & CEO of Loews Hotels & Resorts. “We will continue to grow
and have a presence in key cities and markets that cater to our loyal business
travelers and leisure guests.”

Loews Hotels & Resorts continues to seek hotel additions in gateway cities and
resort destinations as part of the company’s strategy to add substantially to
its portfolio of hotels over the next five years.

About Loews Hotels & Resorts

Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 18
hotels and resorts in the U.S. and Canada including the Loews Hollywood Hotel
located adjacent to the Hollywood & Highland Center. The hotel features 632
guestrooms, including 113 suites and over 120,000-square-feet of meeting
space. Located in major city centers and resort destinations in North America
from coast to coast, the Loews portfolio features one-of-a-kind properties
that go beyond Four Diamond standards to delight guests with a supremely
comfortable, uniquely local and vibrant travel experience. For reservations or
more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit:

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Loews Hotels & Resorts
Lark-Marie Anton, 212-521-2779
Sarah Murov, 212-521-2495
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