Loews unit buys Mandarin Oriental San Francisco Hotel
New York
LOEWS Corp's lodging unit agreed to buy the Mandarin Oriental San Francisco Hotel ahead of a new phase of growth under its incoming chief executive officer.
The 158-room property, currently managed by Mandarin Oriental Hotel Group, will be the first in the city for Loews Hotels & Resorts, the buyer said. Paul Whetsell, who is stepping down as CEO of the unit next month, said that San Francisco was the last of the top five gaps that he planned to fill in the portfolio since taking over in 2012.
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