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Monday, October 6, 2014

Hilton to sell NY's Waldorf Astoria hotel for $1.95 bln, (NYSE: HLT)

Hilton Worldwide Holdings Inc said it would sell the landmark Waldorf Astoria New York hotel to Chinese insurer Anbang Insurance Group Co Ltd for about $1.95 billion.The property is the flagship hotel of Hilton's luxury brand, Waldorf Astoria Hotels & Resorts, which owns 27 properties across cities such as Amsterdam, Chicago, and Shanghai.Hilton shares rose almost 3 percent in early trading on Monday.Hilton said the hotel would also be renovated and that it would continue to operate the property for the next 100 years.

Hilton Worldwide Holdings Inc. is a hospitality company. Shares of HLT traded higher by 0.16% or $0.0401/share to $24.36. 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 1338272.