Loews to purchase Intercontinental O'Hare Chicago Hotel

A guest, right, checks in at the reception desk Intercontinental Chicago O'Hare in Rosemont. (Chris Walker / Chicago Tribune / September 8, 2008)

Loews Hotels and Resorts has entered into an agreement to buy the Intercontinental Chicago O’Hare Hotel, the hotel chain announced Monday. The deal is expected to close in July.

The hotel's name will become Loews Chicago O’Hare.

New York-based Loews, which is also building a new 400-room hotel in Streeterville scheduled to open in February, is expanding its portfolio of hotels and “continues to add properties in gateway cities and resort destinations,” the company said in a news release.

"The Midwest is an area where we were looking to increase our presence," Jonathan Tisch, Chairman of Loews Hotels & Resorts, said in the release.

The 556-room Intercontinental Chicago O’Hare, located less than two miles from O’Hare in Rosemont, has three restaurants and bars, more than 53,000 square feet of meeting and event space and a curated art gallery. The Donald E. Stephens Convention Center and the Fashion Outlets of Chicago are nearby.