Anbang Said to Have Plans to Close New York’s Waldorf Astoria for Three Years, Converting Most of its 1,400 Rooms to Condos

June 27, 2016

New York's landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. The luxury hotel, managed by Hilton Worldwide Holdings Inc., is set to reopen as many as three years later, with about 300 to 500 hotel rooms remaining, said the person, who asked not to be identified because the plans aren't public. For the complete story please visit: http://www.bloomberg.com/news/articles/2016-06-26/nyc-s-waldorf-astoria-said-to-close-in-2017-to-convert-to-condos ...