.jpg)
Loews, which spent approximately $135 million on it's Miami Beach operation, before opening it's doors in 1998, recently announced a $35 million renovation, with plans to renovate all of the guest rooms, upgrade the lobby and build new retail stores. According to Loews Hotel Chief Executive Jonathan M. Tisch, the renovation is necessary to remain competitive with other luxury hotels, such as the 1,504-room Fontainebleau Miami Beach Hotel.
Tisch told the South Florida Sun-Sentinal that he expects business to increase by 10% in 2010, with an improving economy, although he admits that he is uncertain of the long term effects of the global economy on consumers. Notwithstanding, Tisch plans to open a 19th hotel in mid-town Atlanta, and is looking into buying up distressed hotel properties in popular cities like Boston, Chicago, and San Francisco.
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