Yes, but the rates are limited, and sell out fast. You call reservations, and say you have an entertainment card. They'll tell you if the rate is available. They'll ask to see your card at check in, so you don't need it when you book, but you do need it at checkin.
Also, you won't get any free gifts when you check in, and you'll end up on the 5th floor (HRH), which is the pet floor.
Best idea is to sign up as a Loews member, or use your AP (Annual Pass) card to get a good discount. Also, it often helps to call a human on the phone and ask what the best rate is, and then balk at it. Something better might "magically" appear on their screen to get you to book it.
In the past a few years ago, people got insane rates of $109 a night at the HRH, and no one really cared about welcome gifts. But now a days, the E-rate only gets you a slight discount, and no welcome gift. Trivial as it may be, people want a gift at check in.