Iconic Waldorf Astoria Falls To Foreign Ownership
One of the hospitality world's most iconic properties the Walforf Astoria has transacted to an Asian buyer.
The hotel has transacted at a reported US$1.95 billon to China based Anbang Insurance.
Hilton Worldwide was the seller and apparently the offer was too good to refuse.
Aside from being a legendary hotel the property bears the namesake of Hilton's luxury tip tier brand.