Beijing buys legendary NYC hotel for $2bn

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 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,...
More