Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced that the company will open a new property in Chicago. The hotel is being developed by Chicago-based DRW Trading Group (DRW) and designed by the architectural firm Solomon Cordwell Buenz. The Loews Chicago Hotel will feature 400 guestrooms, including 36 suites, a signature restaurant, more than 25,000 square feet of innovative meeting space, multiple outdoor terraces for guest and function uses, spa/fitness center and an outdoor rooftop including a pool overlooking the city. The hotel is slated to open in January, 2015. “This Chicago property promises to deliver a unique experience for our guests as we expand and grow our brand,” said Jonathan Tisch, Chairman of Loews Hotels & Resorts. “The location, amenities and services will surpass expectations, making the Loews Chicago Hotel one of the most sought after hotels in the area.” Boasting city and lake views from the guest rooms, the property is located just one block north of the Chicago River and two blocks east of North Michigan Avenue, in the heart of Chicago. The hotel will be part of a highly visible 52-story tower comprised of the Loews Chicago Hotel and 390 luxury residential apartments. “We are thrilled to partner with Loews Hotels & Resorts to bring a unique experience to downtown Chicago,” said Donald R. Wilson, Jr., Founder and CEO of DRW Trading Group. “The Loews Hotels brand will be an invaluable addition to the Chicago hotel market.” Loews Hotels & Resorts’ plans for the new Chicago hotel follow the announcement of another new build, the 1,800-room Cabana Bay Beach Resort at Universal Orlando, expected to open in 2014. Cabana Bay Beach Resort is the fourth hotel in partnership with Universal Parks & Resorts, and is one of the largest hotels being built in the United States at the present time.