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Tue 7 Oct 2014 12:28 PM

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NYC: Hilton to sell landmark Waldorf-Astoria Hotel

Hilton Worldwide will sell the Waldorf-Astoria Hotel to the Beijing-based Anbang Insurance Group for $1.95 billion. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy.

NYC: Hilton to sell landmark Waldorf-Astoria Hotel
People walk by the Waldorf Astoria, the landmark New York hotel, on October 6, 2014 in New York City. It was announced October 6, that Hilton Worldwide will sell the Waldorf to the Beijing-based Anbang Insurance Group for $1.95 billion. As part of the deal the Waldorf will undergo a major renovation. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy. (Getty Images)
NYC: Hilton to sell landmark Waldorf-Astoria Hotel
The Waldorf Astoria, the landmark New York hotel, is viewed on October 6, 2014 in New York City. It was announced October 6, that Hilton Worldwide will sell the Waldorf to the Beijing-based Anbang Insurance Group for $1.95 billion. As part of the deal the Waldorf will undergo a major renovation. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy. (Getty Images)
NYC: Hilton to sell landmark Waldorf-Astoria Hotel
The Waldorf Astoria, the landmark New York hotel, is viewed on October 6, 2014 in New York City. It was announced October 6, that Hilton Worldwide will sell the Waldorf to the Beijing-based Anbang Insurance Group for $1.95 billion. As part of the deal the Waldorf will undergo a major renovation. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy. (Getty Images)
NYC: Hilton to sell landmark Waldorf-Astoria Hotel
The entrance to the Waldorf Astoria, the landmark New York hotel, is viewed on October 6, 2014 in New York City. It was announced October 6, that Hilton Worldwide will sell the Waldorf to the Beijing-based Anbang Insurance Group for $1.95 billion. As part of the deal the Waldorf will undergo a major renovation. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy. (Getty Images)
NYC: Hilton to sell landmark Waldorf-Astoria Hotel
The entrance to the Waldorf Astoria, the landmark New York hotel, is viewed on October 6, 2014 in New York City. It was announced October 6, that Hilton Worldwide will sell the Waldorf to the Beijing-based Anbang Insurance Group for $1.95 billion. As part of the deal the Waldorf will undergo a major renovation. The Park Avenue hotel opened on October 1, 1931, and claimed to be the biggest hotel in the world at the time, attracting movie stars, politicians and the wealthy. (Getty Images)