Waldorf Astoria to lose about 1,000 rooms in three-year renovation

Left-over space will be converted into residential units

New York Weekend Edition /
Nov.November 11, 2017 09:00 AM

Sources say Hilton is not happy with the cut to guest rooms. Hilton President and CEO Chris Nassetta, pictured.
(Credit: World Travel & Tourism Council/Flickr, front; Hennem08/Wikimedia Commons, back)

The Waldorf Astoria hotel will convert many of its guest rooms into residential units over the course of a three-year renovation, which began this spring with the hotel shutting down operations.

The hotel’s owner, Anbang Insurance Group, confirmed to the New York Post that the renovated Waldorf will have 350 condos and 350 hotel rooms — the latter of which is ruffling feathers at Hilton. Sources told the Post that the hospitality company had not been anticipating such a large cut to the number of guest-rooms, which stood at 1,413 rooms before the renovation began.

Hilton, the hotel’s former owner, has a 100-year operation agreement for the iconic Park Avenue Waldorf and operates about 30 properties under the brand worldwide. According to the Post, the operator is concerned that downsizing the brand’s flagship could cause its other properties to falter.

Anbang doesn’t seem to be concerned; the Chinese holding company has engaged AECOM Tishman to manage the renovation and secured permits for construction. Work is to begin in the coming weeks.

[NYP] — E.K. Hudson


Related Articles

arrow_forward_ios
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
These are the tallest towers underway in NYC
These are the tallest towers underway
in NYC
These are the tallest towers underway
in NYC
A new competition asks what would houses on Mars look like (Credit: Getty Images, Pixabay)
Architecture’s final frontier: Here’s what houses on Mars might look like
Architecture’s final frontier: Here’s what houses on Mars might look like
Terreno Realty CEO W. Blake Baird and an aerial of the property (Google Maps)
Terreno Realty pays $44M for NJ industrial site
Terreno Realty pays $44M for NJ industrial site
Madison Realty Capital Co-Founders Josh Zegen and Brian Shatz with a rendering of the River North development (Madison Realty Capital, FXCollaborative)
Madison Realty’s altered plans for SI complex approved
Madison Realty’s altered plans for SI complex approved
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
PBC's Eli Elefant and 452 Fifth Ave (PBC)
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
Chinese developer willing to sell Manhattan supertall site at big loss
Chinese developer willing to sell Manhattan supertall site at big loss
Chinese developer willing to sell Manhattan supertall site at big loss
arrow_forward_ios

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

Loading...