Bought by the Beijing-based insurance group, the Waldorf Astoria will continue to be managed by Hilton Worldwide for the next 100 years, having owned it for the past 65. According to a recent statement from Hilton, the Waldorf Astoria will undergo major renovations to restore its historic aspects.
“We are very excited to be entering into this long-term relationship with Anbang, which will ensure that the Waldorf Astoria New York represents the brand’s world-class standards for generations to come,” says Christopher J. Nassetta, president and CEO of Hilton Worldwide, in a press statement. “This relationship represents a unique opportunity for our organisations to work together to finally maximise the full value of this iconic asset on a full city block in midtown Manhattan.”
Future plans for Hilton Worldwide include acquiring additional hotels in the US.
First published on Luxurymena.com, sister publication of Aficionado.