Loews Hotels & Resorts Announces Troy Furbay As Chief Investment Officer

Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE: L), today announced the promotion of Troy Furbay to Chief Investment Officer, responsible for leading the company’s property acquisitions, real estate development and capital raising.

Furbay, who joined Loews Hotels & Resorts in 2010, has played an integral role as the company continues to expand its brand. Under his leadership, Loews has recently acquired hotels in Los Angeles, Washington, D.C. and Boston as well as hotels under construction in Chicago and Orlando.

“Troy and his team are playing a vital role as we focus on growing and expanding our portfolio,” said Paul Whetsell, President and CEO of Loews Hotels & Resorts. “He has a proven track record of successfully closing deals including the addition of three key assets to the Loews brand in the past year.”

Prior to joining Loews, Furbay held the position of Senior Vice President of Acquisitions and Development for Kimpton Hotels, where he played an instrumental role in the company’s expansion through acquisitions, management contracts and joint ventures. Earlier in his career, Furbay spent time with MeriStar Hotels and KPMG in development positions. He started his hospitality career with Sheraton Hotels in 1990.

Furbay received his MBA in finance from Fordham University and resides in New York City with his wife and two children.

Loews Hotels & Resorts

Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 20 hotels and resorts in the U.S. and Canada including the newly acquired Loews Madison Hotel located in the heart of Washington at the epicenter of legendary D.C. landmarks and the Loews Boston Back Bay Hotel, one of Boston’s preeminent historic buildings, situated on the corner of Berkeley and Stuart Streets. Located in major city centers and resort destinations in North America from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience. For reservations or more information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit: www.loewshotels.com.

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Copyright Business Wire 2010

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