The Chinese are buying venerable New York hotel – Swedish Dagbladet

The Chinese are buying venerable New York hotel – Swedish Dagbladet

The buyer is it Chinese insurer Anbang Insurance, which pays nearly two billion dollars, over 14 billion, for the luxury hotel.

But Hilton should continue to operate the hotel the next 100 years, according to the agreement between the parties, writes Reuters.

hotel on Park Avenue in Manhattan is the second Waldorf Astoria. When it opened in 1931, the Waldorf Astoria the largest and tallest hotel in the world, and even then-President Herbert Hoover was talking about it in a broadcast from the White House.

The first Waldorf Astoria located at the site where the Empire State Building now stands.