Hilton Selling Waldorf Astoria New York for $1.95B MCLEAN, Va. — Oct 6, 2014,
Hilton Worldwide is selling the Waldorf Astoria New York to Chinese insurance company Anbang Insurance Group Co. for $1.95 billion.
Hilton will continue to manage the storied hotel for the next 100 years as part of an agreement with Anbang.
The Waldorf Astoria New York has restaurants including Peacock Alley, Bull and Bear Prime Steakhouse and Oscar's. The companies said Monday that the property will undergo a major renovation.
In March 1893, millionaire William Waldorf Astor opened the 13-story Waldorf Hotel. The Astoria Hotel opened four years later. The Waldorf Astoria New York, on Park Avenue in Manhattan, opened in 1931, according to the company's website.
At the time it was the largest hotel in the world. The hotel became an official New York City landmark in 1993.
Hilton Worldwide plans to use proceeds from the hotel's sale to buy additional hotel assets in the U.S.
Hilton Worldwide Holdings Inc. was taken private in 2007 by private equity firm Blackstone Group LP. The hotel chain returned to public stock markets in December 2013. The McLean, Virginia, company is the world's largest hotel group with more than 690,000 rooms across 93 countries and territories.
Aside from Waldorf Astoria Hotels & Resorts, its brands include Hilton Hotels & Resorts, DoubleTree by Hilton and Embassy Suites Hotels.
Rumor has it: The Waldorf used to have a secret tunnel used by President FDR during the war to transfer from the train enroute to Hyde Park. I wonder if it has been sealed?
With 26 Presidential style suites, 4 historic suites, and residential apartments with a variety of footprints, the Towers of the Waldorf Astoria has multi-bedroom accommodations to fit every need- business or leisure. Suite rates start at $499/nt.
Some Guest Rooms book for $349 a night
Bull & Bear Pre-Theatre Dinner
Menu Offered Daily for Guests Seated Between 5:30 PM & 6:30 PM.
Enjoy a three-course menu with Waldorf Classics such as Waldorf Salad, Bull & Bear Beef Tournedo and Waldorf Astoria Red Velvet Cake. $65 per person plus tax and gratuity.
Photos | Waldorf Astoria New York Media Gallery