Troy Furbay has only been on the job five weeks, but he’s already got big plans with Loews Hotels. The new executive vice president of acquisitions and development can draw on his almost 10 years of similar experience at Kimpton Hotels, where he helped lead the San Francisco-based boutique hotel company into markets up and down the East Coast.
His task with Loews is to drive similar growth in gateway cities and resort locations across the country. Although Loews has just 19 properties, Furbay says the company’s brand recognition belies a much larger player in the industry and will help fuel expansion.
Not only will Furbay draw on the brand name, he’ll also be armed with the backing of Loews Corp.’s balance sheet.
Furbay wants to add properties in New York City, where Loews is headquartered, and in other prime markets like Boston, Chicago and San Francisco. He says Loews is considering everything from acquisitions to new construction to adaptive reuse. He also wants to grow Loews through management contracts—five of the 19 properties aren’t corporate owned—and will look for opportunities in assisting owners in distress.