The Landmark NYC Waldorf-Astoria Hotel to Be Sold to Chinese Investors for $1.95 Billion

Discussion in 'Hilton | HHonors' started by NYCUA1K, Oct 6, 2014.  |  Print Topic

  1. NYCUA1K

    NYCUA1K Gold Member

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    Link to story:
    Hilton Worldwide is selling the Waldorf-Astoria, a landmark hotel that has epitomized luxury for generations of visitors to New York, to a Chinese insurance company for $1.95 billion.

    The buyer, Anbang Insurance Group, plans a renovation of the hotel on Park Avenue, to restore the 47-story tower to its Art Deco grandeur.

    The hotel’s gold doorknobs, lavish rooms, artwork, furniture and chandeliers with a cascade of silver and crystal pendants prompted President Herbert Hoover to describe the 1931 opening of the Waldorf-Astoria as “an event in the advancement of hotels, even in New York City.”

    Hilton, which owns, controls or franchises more than 4,200 properties, will continue to operate the 1,413-room hotel under a 100-year management contract with Anbang.
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  2. ACMM
    Original Member

    ACMM Gold Member

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    Wow ... have not stayed at that property - enjoy the one in Nola ... wonder how this will change things? ;) Maybe actually for the better?
     
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