#AceNewsServices – UNITED STATES (New York) – October 08 – The worlds’ biggest hotel operator Hilton Worldwide has sold the iconic Waldorf Astoria in New York to a Chinese insurance company for nearly $2 billion, a record for a US hotel.
‘The Waldorf Astoria is pictured at 301 Park Avenue in New York ‘
The deal marks the continued Chinese real estate shopping spree in America.
Hilton Worldwide Holdings sold the historic landmark to Beijing-based Anbang Insurance Group for a record breaking $1.95 billion, which is the largest acquisition of US realty by a Chinese buyer.
The hotel will still be operated by Hilton, but is expected to undergo major renovations in the coming years.
Opened in 1931 and offering some of the best views of the Manhattan skyline, the hotel is famed for its elite guest list from US presidents to celebrities like Marilyn Monroe and Elizabeth Taylor.
President Barack Obama books the Presidential Suite when he travels to New York City, following the tradition of every US president since Herbert Hoover.
Next time the President stays at the hotel, it will be under Chinese ownership.