Loews Hotels to Enter Washington With Purchase of Madison Hotel

Loews Corp.’s hotel division agreed to buy the 356-room Madison Hotel in Washington, entering the city as part of an expansion in major markets and resort areas.

The seller was Jamestown Properties, which oversaw a $23 million renovation of the property at 15th and M Streets this year, according to a statement by New York-based Loews, a holding company with insurance, energy and lodging businesses. The price of the transaction wasn’t disclosed.