The iconic New York City hotel, the Waldorf Astoria, has been sold to Anbang Insurance Group Co., a Chinese insurance company.
The hotel will continue to be managed by Hilton for the next 100 years, however Hilton is using assets from the hotel‘s sale to buy additional properties in the United States. The property is soon to undergo a major renovation.
- In March 1893, millionaire William Waldorf Astor opened the 13-story Waldorf Hotel.
- The Waldorf Astoria New York, on Park Avenue in Manhattan, opened in 1931. At the time it was the largest hotel in the world.
- The hotel became an official New York City landmark in 1993.
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