Anbang’s Waldorf Astoria purchase hits major snag

US officials looking into security issues and company's long-term plans for iconic hotel

New York /
Oct.October 13, 2014 05:20 PM

The U.S. government is investigating Anbang Insurance Group’s $1.95 billion purchase of the Waldorf Astoria hotel last week, citing security concerns.

U.S. officials said the sale could impact the government’s storied relationship with the hotel. The American ambassador to the United Nations resides there, and hundreds of U.S. diplomats stay there during the General Assembly.

“We are currently in the process of reviewing the details of the sale and the company’s long-term plans for the facility,” Kurtis Cooper, a spokesperson for the U.S. Mission to the United Nations, told the Associated Press.

The seller, Hilton Worldwide Holdings, will still operate the hotel for the next century. The deal could be the city’s largest single-asset transaction this year. Anbang beat out at least two other bidders ahead of a planned campaign to market the hotel, as previously reported. [Associated Press via NYP]Mark Maurer


Related Articles

arrow_forward_ios
PMG principals Kevin Maloney (middle), Ryan Shear (left) and Dan Kaplan with a rendering of Waldorf Astoria Miami (PMG, Muse Residences, Rendering via ArX Solutions)
Waldorf Astoria Miami, planned as the tallest resi tower south of Manhattan, launches sales
Waldorf Astoria Miami, planned as the tallest resi tower south of Manhattan, launches sales
Hotel Association of New York City CEO Vijay Dandapani and Hilton Times Square (Getty)
80% of NYC hotels backing CMBS loans show signs of distress
80% of NYC hotels backing CMBS loans show signs of distress
From left: The Hotel, Trump International Hotel and Hilton Times Square (Google Maps, Hilton)
New York City hotels put strain on $3.1B in CMBS loans
New York City hotels put strain on $3.1B in CMBS loans
Hilton CEO Chris Nassetta (Getty; iStock)
Stemming losses, Hilton sets sights on office workers instead of tourists
Stemming losses, Hilton sets sights on office workers instead of tourists
Hilton CEO Christopher Nassetta and the hotel at 234 West 42nd Street (Google Maps; Getty; Hotel Planner)
Hilton Times Square to close permanently
Hilton Times Square to close permanently
Senegal House renderings (left) and 235 East 44th Street (right (Credit: Urbahn Architects and Google Maps)
Senegal sued again over Midtown tower project “clouded with corruption and cronyism”
Senegal sued again over Midtown tower project “clouded with corruption and cronyism”
CGI Merchant Group CEO Raoul Thomas and Hilton CEO Chris Nassetta (Credit: MANDEL NGAN/AFP via Getty Images)
CGI plans $500M fund to acquire distressed hotels, rebrand with Hilton
CGI plans $500M fund to acquire distressed hotels, rebrand with Hilton
Hilton CEO Chris Nassetta (Getty, iStock)
“We’re not crying in our milk”: Hilton eyes new hotels despite $432M loss in Q2
“We’re not crying in our milk”: Hilton eyes new hotels despite $432M loss in Q2
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...