Loews Corporation said that on January 1 CEO Alex Tisch would become president and CEO of its chain of 25 luxury properties, Loews Hotelssucceeding his cousin once removed Jon Tisch, who will become executive chairman and remain co-chairman of the board.

Alex, a fourth-generation member of the family, joined Loews Hotels in 2017 and was named president in September 2020. He has sped up Loews Hotels’ growth by adding properties, including an 800-room property in Kansas City, Missouri, and developing key partnerships in Arlington, Texas. Alex also helped to boost the metabolism of its commercial group, the company said.

He’ll succeed Jon Tisch, who has been an officer of Loews since 1986.

“In his 43 years at Loews Hotels, Jon has engineered the company’s expansion and emergence as a leading hotel business,” said James Tisch, Loews Corporation president and CEO, during an earnings call with analysts on Monday. “In particular, Jon was instrumental in building Loews Hotels’ long-standing partnership in Orlando with Universal Studios while also having the foresight to develop the iconic Loews Miami Beach Hotel.’

The November opening of a 242-room Coral Gables hotel will mean Loews Hotels will have about 10,000 rooms in the South Florida market and about 16,500 guest rooms across the country.

Loews Hotels & Co’s net income for the three months ended September 30, rose $12 million year-over-year to $25 million.

“The hotel properties at the Universal Orlando Resort contributed meaningfully to the period-over-period improvement,” the company said.

Surfside Inn and Suites at Universal’s Endless Summer Resort. Source: Loews Hotels.

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