Larry Tisch, and brother Bob, took over Loew’s Theatre Company in 1961. Though the firm’s assets were attractive as regal old theatres, the Tisch brothers saw more profit in selling the downtown theatres as prime real estate. After selling off the downtown facilities and building suburban theatres, the brothers next took to expanding Loew’s into the hotel business, buying hotels in New York, Chicago and San Francisco. By 1968, the brothers had built Loews into the third largest hotel operator, with assets of $278 million and revenues of $167 million. Tisch has expanded beyond hotels to create a media and consumer products conglomerate.