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Hilton to Sell Waldorf Astoria New York to Chinese Firm for Nearly $2 Billion

Dennis Schaal photo
Dennis Schaal

Photo Credit: The exterior of the Waldorf-Astoria New York.  Flickr / Chris Breeze

Skift Take

If you're going to go asset light, you may as well unload one of your biggest assets while collecting management fees for the next century.

The speculation is now over as to when Hilton Worldwide would finally sell a huge asset, the Waldorf Astoria New York, as the company announced it reached a deal to sell the historic Manhattan property to Anbang Insurance Group Co. for $1.95 billion in cash. Under the terms of the deal, the property will retain its brand, undergo a r

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