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Monday, October 6, 2014

Hilton to sell NY's Waldorf Astoria to Chinese firm, (NYSE: HLT)

Hilton Worldwide Holdings Inc said it would sell its flagship Waldorf Astoria New York hotel to a Chinese insurance company for $1.95 billion, one of the highest prices per room ever paid for a U.S. hotel.Anbang Insurance Group Co Ltd will pay $1.38 million per room for the Manhattan hotel that was once home to Marilyn Monroe, in a deal that will see Hilton continue to operate the property for the next 100 years."The hotel will undergo a major renovation to restore the property to its historic grandeur," Hilton said in a statement.The Waldorf Astoria is the latest iconic New York property to be bought by a Chinese company, after last year's sale of One Chase Manhattan Plaza to Fosun International Ltd, controlled by billionaire Guo Guangchang. (

Hilton Worldwide Holdings Inc. is a hospitality company. Shares of HLT fell by 0.33% or $-0.08/share to $24.24. In the past year, the shares have traded as low as $20.55 and as high as $25.92. On average, 4105790 shares of HLT exchange hands on a given day and today's volume is recorded at 3156566.