Blackstone-owned Hilton sells New York's Waldolf Astoria to China insurer
China’s Anbang Insurance Group has agreed to buy the Waldorf Astoria hotel in New York from Hilton Worldwide Holdings, a portfolio company of The Blackstone Group, for $1.95 billion.
The property, which has been in its current location on Manhattan's Park Avenue since 1931, will continue to be managed by Hilton. The hotel will also undergo a major renovation intended to restore it...
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