NEW YORK— Loews Hotels is close to inking a deal for its first property in New Orleans, one of the nations most tourist-dependent cities in spite of the sharp drop in tourism the Manhattan-based hotel company has seen in many of its markets. According to a recent report on crainsny.com, the project includes the conversion of an office building near the citys convention center into a 280-room hotel. That would be Loews 19th property, and serve as a sign of its belief that the nations tourist economy will revive by the time the property is ready to open in 2003, noted Jack Adler, president, Loews Hotels. However, Adler declined to discuss the terms of the deal in the report. New Orleans reports peg it at $60 million. SOURCE: crainsny.com
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