{"id":1004106954,"date":"2014-11-06T08:17:27","date_gmt":"2014-11-06T16:17:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004106954"},"modified":"2022-12-08T04:43:13","modified_gmt":"2022-12-08T12:43:13","slug":"loews-hotels-buys-loews-ventana-canyon-resort-in-tucson","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\/","title":{"rendered":"Loews Hotels Buys Loews Ventana Canyon Resort in Tucson"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004106956\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\/attachment\/1004106956\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg\" data-orig-size=\"800,532\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;5.6&quot;,&quot;credit&quot;:&quot;MARK SKALNY (C)2010&quot;,&quot;camera&quot;:&quot;NIKON D3S&quot;,&quot;caption&quot;:&quot;Luxury hotel resort at twilight&quot;,&quot;created_timestamp&quot;:&quot;1278965087&quot;,&quot;copyright&quot;:&quot;Mark Skalny&quot;,&quot;focal_length&quot;:&quot;28&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;30&quot;,&quot;title&quot;:&quot;???????????????????????????????&quot;}\" data-image-title=\"???????????????????????????????\" data-image-description=\"&lt;p&gt;Luxury hotel resort at twilight&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg?w=800\" class=\"alignright size-medium wp-image-1004106956\" alt=\"???????????????????????????????\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg?resize=768,511 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>Loews Hotels &amp; Resorts has added a familiar property in Tucson to its growing collection. The company just acquired Loews Ventana Canyon Resort, a 398-room lodging destination that has operated under Loews Hotels\u2019 management since the doors first swung open at 7000 N. Resort Dr. in 1984.<\/p>\n<p>Ventana Canyon is one of three properties Loews Hotels purchased this year in separate transactions totaling $230 million. The Estes family of Tucson&#8211;Ventana Canyon was developed by The Estes Co.&#8211;sold all but a minority ownership stake in the property to Loews Hotels. Sometimes, it\u2019s all about relationships.<\/p>\n<p>\u201cThere\u2019s always a market for iconic resort properties of which this is certainly one. In the present environment there\u2019s a lot of buyer interest and lender interest in hotel acquisitions, which makes for a competitive market, and in those circumstances an existing long-term relationship can be a key advantage in closing a deal,\u201d Anne Lloyd-Jones, managing director with hospitality consulting firm<b>\u00a0<\/b>HVS told <i>Commercial Property Executive<\/i>.<\/p>\n<p>Loews relied on cash and property-level debt to finance the purchase.<\/p>\n<p>Sited on 100 acres in the Sonoran Desert\u2019s Catalina Mountain range, Ventana Canyon has garnered international prominence with such offerings as two Tom Fazio-designed golf courses, a 7,000-square-foot spa and an 80-foot natural waterfall. Loews Hotels plans to kick off a renovation program in 2015 in an effort to further strengthen the resort\u2019s foothold in the market.<\/p>\n<p>Loews Hotels\u2019 purchase of Ventana Canyon dovetails perfectly with the company\u2019s current strategy, as did this past summer\u2019s acquisition of Graves 601 Hotel in Minneapolis, now Loews Minneapolis Hotel; and InterContinental Chicago O\u2019Hare Hotel, renamed Loews Chicago O\u2019Hare Hotel. As Jim Tisch, president &amp; CEO of Loews Corp., parent company of Loews Hotels, noted during the company\u2019s third quarter earnings call Nov. 3, \u201cLoews Hotels continues to focus on building its brand and broadening its customer base through the addition of new properties in gateway cities and resort destinations. The financial results are improving nicely.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loews Hotels &amp; Resorts has acquired Loews Ventana Canyon Resort, a 398-room lodging destination that has operated under Loews Hotels\u2019 management since the doors first swung open at 7000 N. Resort Dr. in 1984. <\/p>\n","protected":false},"author":969,"featured_media":1004106956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,21742],"tags":[1613],"class_list":["post-1004106954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-latest","tag-tucson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Loews Hotels Buys Loews Ventana Canyon Resort in Tucson - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loews Hotels Buys Loews Ventana Canyon Resort in Tucson\" \/>\n<meta property=\"og:description\" content=\"Loews Hotels &amp; Resorts has acquired Loews Ventana Canyon Resort, a 398-room lodging destination that has operated under Loews Hotels\u2019 management since the doors first swung open at 7000 N. Resort Dr. in 1984.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-06T16:17:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T12:43:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Loews-Ventana-Canyon-Resort.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"532\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Loews Hotels Buys Loews Ventana Canyon Resort in Tucson\",\"datePublished\":\"2014-11-06T16:17:27+00:00\",\"dateModified\":\"2022-12-08T12:43:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/Loews-Ventana-Canyon-Resort.jpg\",\"keywords\":[\"Tucson (No longer used)\"],\"articleSection\":[\"Hotel\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/loews-hotels-buys-loews-ventana-canyon-resort-in-tucson\\\/\",\"name\":\"Loews Hotels Buys Loews Ventana Canyon Resort in Tucson - 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