Pursuits
Hilton to Sell NYC’s Waldorf Astoria Hotel for $1.95 Billion
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Hilton Worldwide Holdings Inc., the world’s largest publicly traded hotel operator, agreed to sell the landmark Waldorf Astoria hotel in Manhattan to China’s Anbang Insurance Group Co. for $1.95 billion.
Hilton will continue to manage the 1,232-room luxury hotel, which will undergo a major renovation, the McLean, Virginia-based company said in a statement today. It plans to use the proceeds from the sale to buy other U.S. properties.