Waldorf Astoria Hotel Sold for 1.95 Billion

  
    One of my favorite hotels in New York City, The Waldorf Astoria is being sold to a Chinese insurance company Anbang Insurance Group for $1.95 billion. Making it the the most expensive ever sold. The famous hotel was built in 1931, by Schultze&Weaver, same architect firm that worked on other New York City landmarks like New York's Grand Central Terminal, The Pierre hotel, and  The Sherry-Netherland. Conrad Hilton claimed in 1932 that the hotel was "The Greatest of Them All" and it was his goal to own the hotel. In October 1949, his goal came true and he purchased the New York City Landmark and obtained management rights to the property. The hotel has 1,416 guest rooms and suites. Each room is decorated differently; no two are exactly alike, which is pretty impressive. The Waldorf Hotel was the first to offer complete electricity&private bathrooms. It also popularized room service for guests. In 1993, it became  an official New York City landmark. The hotel is the flagship hotel of the Hilton's luxury brand, Waldorf Astoria Hotels & Resorts. Part of the deal, the Hilton will continue to operate the property for 100 years and the hotel will undergo a major renovation. Money made from the sale will enable Hilton Woad Hiltonrldwide, the largest hotel group in the world based on number of rooms, to buy more properties in the USA. The deal is scheduled to close on Dec. 31 2014