The Real Deal New York

Hilton to buy four hotels with Waldorf Astoria sale proceeds

Hotel giant looks to pick up three properties in Florida and one in San Francisco

December 11, 2014 08:05AM

From left: Parc 55 Wyndham in San Francisco, Christopher Nassetta and the Waldorf Astoria

From left: Parc 55 Wyndham in San Francisco, Christopher Nassetta and the Waldorf Astoria

Hilton Worldwide Holdings is looking to buy four hotels from Blackstone Group and other owners.

The hotel chain, which is majority owned by Blackstone, is looking to buy the properties to defer tax payments from its $1.95 billion sale of New York’s Waldorf Astoria to China’s Anbang Insurance Group, according to Bloomberg News. The hotels include the Parc 55 Wyndham in San Francisco, two Waldorf Astoria locations in Key West and one in Orlando.

The other owners of the hotels are Boston-based private equity firm Rockpoint Group as well as Chicago-based Gem Realty Capital and San Francisco-based hedge fund firm Farallon Capital Management, according to the website. [Bloomberg News]Claire Moses

 

  • patmgee

    Horrible purchase with the Orlando hotel as it is sucking wind…must have been a throw in or else the deal would be called off

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