BOSTON-Loews Hotels & Resorts on Tuesday said it had completed the acquisition of the 225-room Back Bay Hotel in Boston. Financial terms of the purchase from the Dublin-based Doyle Collection were not disclosed. The Back Bay now flies the Loews flag; its new owners plan an approximately $8-million renovation scheduled to begin in the fall.
“The Loews Boston Back Bay Hotel is a distinctive property,” says Paul Whetsell, president and CEO of Loews Hotels & Resorts, in a release. “Built in the 1920s, this historic hotel was the former headquarters of the Boston Police Department. The property is in great physical condition, with the renovation targeted to further enhance the guest experience.” The property was used as police headquarters until the 1990s.
Savills Hospitality Group advised Loews on the Back Bay deal. “The acquisition of this historic property fits ideally into Loews’ expansion plans,” Marc Magazine, managing director of the Savills Hospitality Group, says in a separate release.
When the acquisition was first announced in January, a release from the company said the deal was 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, said 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.”