Loews Hotels & Resorts plans to open a 400-room property in Chicago in January 2015, as part of the company’s strategy to expand its portfolio of hotels over the next five years.
DRW Trading Group of Chicago is developing the hotel and architectural firm Solomon Cordwell Buenz is the designer.
Loews Chicago Hotel will include 36 suites, a signature restaurant, more than 25,000ft² of meeting space, and multiple outdoor terraces for guest and function purposes.
It will also feature a spa/fitness centre and an outdoor rooftop including a pool overlooking the city.
The hotel will be part of a 52-story tower that consists of 390 luxury residential apartments.
DRW Trading Group founder and CEO Donald Wilson said: "We are thrilled to partner with Loews Hotels & Resorts to bring a unique experience to downtown Chicago. The Loews Hotels brand will be an invaluable addition to the Chicago hotel market."
In partnership with Universal Parks & Resorts, Loews Hotels & Resorts also plans to open a 1,800-room Cabana Bay Beach Resort at Universal Orlando in 2014.
Loews Hotels & Resorts president and CEO Paul Whetsell said: "Loews Chicago and Cabana Bay Beach Resort further highlight our goal of working with proven investors and partners as we seek to continue operating distinct properties in key markets. These new developments are important steps in our plan to expand the Loews brand in major cities across North America."
Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation, owns and/or operates 18 hotels and resorts in the US and Canada.