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Chinese firm, Anbang Insurance, to buy NYC’s Waldorf Astoria hotel for $1.95B

Hilton Worldwide has agreed to sell the Waldorf Astoria New York hotel to Anbang Insurance Group of China for $1.95 billion — said to be one of the highest-ever prices fetched by a hotel. Management of the landmark property will remain with Hilton under a new 100-year management contract. Read the Bloomberg story here

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Commercial Construction & Renovation
The Official Networking Group
of CCR Magazine