L · 10-Q · 2026Q3 · Full report

Hotel Revenue and Earnings

LOEWS CORP · 2026-11-02 · Importance 27 · Surprise 24

Loews Hotels & Co operating revenues increased $40 million in the three months and $70 million in the nine months ended September 30, 2026, versus the comparable 2025 periods. Net income attributable to Loews Corporation increased $19 million and $65 million, respectively. Revenue growth reflected higher average daily rates and occupied room nights, particularly at Loews Miami Beach Hotel after its renovation concluded at year-end 2025 and at the Arlington hotel properties; several properties also benefited from the World Cup. Operating and other expenses increased $13 million and $20 million, respectively, as higher hotel operating costs supported the increased revenues.

Key facts

• Loews Hotels & Co operating revenues increased $40 million and $70 million, and operating and other expenses increased $13 million and $20 million, for the three and nine months ended September 30, 2026, respectively, compared with the 2025 periods. source
• Loews Hotels & Co equity income from joint ventures increased $42 million for the nine months ended September 30, 2026, driven by higher average daily rates and more available and occupied room nights at Universal Orlando Resort, including the three hotels opened in 2025, partly offset by higher operating costs. source
• Loews Hotels & Co net income attributable to Loews Corporation increased $19 million and $65 million for the three and nine months ended September 30, 2026, respectively, compared with the 2025 periods. source
• Loews Hotels & Co equity income from joint ventures decreased $8 million for the three months ended September 30, 2026, primarily due to lower average daily rates and higher operating costs at Universal Orlando Resort hotels, partly offset by more occupied room nights. source
• Loews Hotels & Co’s equity income for the nine months ended September 30, 2025 was reduced by $9 million by an impairment charge at a joint venture hotel; distributions from one joint venture property also declined due to property improvement costs. source
• Loews Hotels & Co interest expense decreased $4 million and $8 million for the three and nine months ended September 30, 2026, respectively, primarily because of lower interest costs on certain debt refinanced in 2025. source
• Loews Hotels & Co's third-quarter 2026 income increased primarily because of a higher overall average daily rate and more occupied room nights across most of the portfolio, partly offset by lower joint-venture equity income. source
• Loews Hotels & Co's first-nine-months 2026 income increased primarily because of a higher overall average daily rate, more occupied room nights across most of the portfolio and higher joint-venture equity income, partly offset by higher operating expenses. source