Hilton may sell Manhattan’s Waldorf Astoria Hotel

Company is also considering selling a stake in the iconic location

TRD NEW YORK /
Feb.February 27, 2014 06:19 PM

Waldorf Astoria owner Hilton Worldwide Holdings is mulling the sale of a stake in the famous property, or possibly the entire hotel.

The vast size of the 1,232-room hotel, one of the largest in New York City, has hurt Hilton’s ability to charge top-tier rates, Hilton CEO Christopher Nassetta said, following the company’s recent fourth-quarter earnings announcement. At present, rooms start at $279 for the first week of March, according to the hotel’s website.

“We may look to reposition the hotel,” Nassetta said. “We are still deciding on how we may reposition it and who we may reposition it with. Part of this would require capital, so we would look at the option of selling all or a stake in the hotel.”

Nassetta said that the company would likely opt to sell real estate in a portfolio transaction rather than in single-property deals. [Crain’s]Julie Strickland


Related Articles

arrow_forward_ios
Hilton CEO Christopher Nassetta and Arianna Huffington (Credit: Getty Images)

Hilton unveils new brand, with a hand from Arianna Huffington

Renderings of Waldorf Astoria

Inside the Waldorf Astoria’s condo conversion

Optera Capital's Glenn Alba, AWH Partners' Russ Flicker and a rendering of 88 Schermerhorn Street

Downtown Brooklyn is getting another Hilton

Angbang's Andrew Miller and the Waldorf Astoria at 301 Park Avenue (Credit: LinkedIn, Wikipedia Commons, and iStock)

Waldorf Astoria condos to hit an oversupplied market this fall

From left: Hilton Worldwide Holdings CEO Christopher Nassetta, the Waldorf Astoria at 301 Park Avenue, and China President Xi Jinping (Credit: Getty Images)

Hilton chief talks China, the Waldorf Astoria and tipping at NYU hospitality conference

Ashford picks up Midtown hotel for $195M

Ashford picks up Midtown hotel for $195M

National Cheat Sheet: Trump tax investigation launched, mall vacancies hit 7-year high … & more

National Cheat Sheet: Trump tax investigation launched, mall vacancies hit 7-year high … & more

AIG is trying to sell this Midtown hotel for more than $200M

AIG is trying to sell this Midtown hotel for more than $200M

arrow_forward_ios
Loading...