In an international deal involving more than 50 attorneys, Hilton Worldwide Holdings Inc. has announced it has entered into an agreement to sell its flagship hotel, the Waldorf Astoria New York, to Beijing-based Anbang Insurance Group Co. Ltd. for $1.95 billion. Hilton Worldwide will continue to manage the legendary 47-story hotel at 301 Park Ave. for the next 100 years.
“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,” Christopher Nassetta, Hilton Worldwide’s president and CEO, said in a news release.
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