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Hilton to sell NY’s Waldorf Astoria hotel for $1.95 bln
(Reuters) – Hilton Worldwide Holdings Inc said it would sell the landmark Waldorf Astoria New York hotel to Chinese insurer Anbang Insurance Group Co Ltd for about $1.95 billion. The property is the flagship hotel of Hilton’s luxury brand, Waldorf Astoria Hotels & Resorts, which owns 27 properties across cities such as Amsterdam, Chicago, and Shanghai. Hilton shares rose almost 3 percent in early trading on Monday. Hilton said the hotel would also be renovated and that it would continue to operate the property for the next 100 years. …
