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Loews Hotels Now Operating The Don CeSar Beach Resort
& Spa Under a Long-term Management Contract
December 5, 2003 - The Don CeSar Beach Resort & Spa, listed on the National Register of Historic Places, officially joined Loews Hotels on December 5, 2003 as its first resort on Florida's Gulf Coast, and fifth property in the state. Renamed the Don CeSar Beach Resort, a Loews Hotel, the legendary resort poised along St. Pete Beach and Boca Ciega Bay adds a new chapter to its 75 years of distinguished history.
Loews Hotels has entered into a partnership with Connecticut General Life Insurance Company (CGLIC), a subsidiary of CIGNA Corporation, and will operate the Don CeSar under a long-term management contract. This latest addition marks the national brand's ninth new property in five years, continuing the largest expansion period in the company's 57-year history. The Loews Hotel New Orleans is scheduled to open in December 2003.

In 2000, the Don CeSar underwent an $18 million guest room renovation. The pool and outdoor areas were renovated and upgraded in the summer of 2002. Loews Hotels will also manage the affiliated 70-room Beach House Suites by the Don CeSar.

"The Don CeSar is an excellent addition to our brand of one-of-a kind hotels that reflect the character and environment of their destinations," says Jonathan Tisch, CEO of Loews Hotels. "This legendary property on the Gulf Coast of Florida is an ideal complement to our other great resort destinations for both our leisure and corporate guests."

"The partnership with Loews Hotels will contribute to the continued growth of this unique and historic asset by leveraging the skills of a well known, high quality hotel industry leader and the strong real estate investment experience of CIGNA Realty Investors (CRI)" says William Carlson, senior managing director and head of equity real estate for CRI. CRI is a division of CIGNA Investments, Inc., investment advisor to CGLIC.

The landmark architecture of the Don CeSar Beach Resort reflects a pink castle accented by Moorish bell towers and imperial turrets. World-renowned for its access to seven-and-one-half miles of powdery shores, the resort hosts more than 300 weddings a year and attracts everyone from presidents and movie stars to multi-generational guests who have built decades of memories.

With the addition of the Don CeSar to the Loews portfolio of 19 hotels and resorts in the United States and Canada, 25 percent of the corporate collection is now concentrated in Florida and include the Loews Miami Beach Hotel as well as three hotels at Universal Orlando: the Hard Rock Hotel, Portofino Bay Hotel, a Loews Hotel, and the Royal Pacific Resort, a Loews Hotel.

Loews Hotels currently owns and/or operates 19 hotels and resorts in the U.S. and Canada. Scheduled to open in December 2003 is the 285-room Loews New Orleans Hotel, a conversion of an office building located across the street from the city's only casino and a short walk to the French Quarter and the New Orleans Convention Center. In addition to developing new hotels, Loews recently added a new property to the chain by assuming management of a 137- room property in Los Angeles central to Beverly Hills and Century City, now called the Loews Beverly Hills Hotel.


 
Contact:
Emily Goldfischer
+1-212-521-2833
egoldfischer@loewshotels.com
http://www.doncesar.com
Also See: $20 million Enhancement Project at Don Cesar Beach Resort & Spa Included New Beds / Mar 2001
Loews Assumes Management of the Former Renaissance Beverly Hills / July 2003


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