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Hilton Worldwide sells the Waldorf Astoria New York

The Waldorf Astoria, a New York landmark building bearing the label of a collection of independent luxury hotels worldwide, has just been sold for close to $2 billion by Hilton Worldwide.

The American group Hilton Worldwide, owned by the investment fund Blackstone, announced the sale of its legendary property The Waldorf Astoria for $1.95 billion, around €1.5 billion, to the Chinese insurance group Anbang. The sale includes a 100-year management contract guaranteeing the property will remain in the hotel group's portfolio. A masterpiece of New York Art Deco, the Waldorf Astoria is not just a 1,500 room property. It is an important venue for local gastronomy with its Peacock Alley, the Bull & Bear Prime Steakhouse and Oscar's Brasserie. It also has a Guerlain Spa occupying 6,000 m², a business center and many shops. The group plans to use money from the sale to invest in new properties to develop in the United States.
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