While Loews Hotels & Resorts has operated the 398-room Loews Ventana Canyon Resort in Tuscon, Arizona, since its opening in 1984, now it can boast ownership of the property, announcing on Wednesday it has acquired a majority stake in the property from the local Estes family.
Loews did not disclose the price or percentage of the property investment. However, Loews did report the resort will undergo a significant renovation.
“Loews Ventana Canyon Resort was the first hotel I developed from start to finish when I returned to Loews Hotels in the early eighties,” said Jonathan Tisch, chairman, Loews Hotels & Resorts. “The Estes Company and Loews Hotels created an iconic resort that is still very much a part of the Tucson landscape and a classic property within our brand. We look forward to continuing the partnerships with the Estes family and the city of Tucson as we launch the next exciting phase of the resort.”
Next for Loews Hotels & Resorts is the Loews Chicago Hotel, a 400-room new-build scheduled to open in March 2015.