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The iconic Waldorf-Astoria hotel is being sold to the Chinese insurer Anbang Insurance Group Co. Ltd for about $1.95 billion.
The 121-year-old hotel is a landmark in New York City: It has hosted dignitaries, politicians, and world-famous celebrities like Elizabeth Taylor and Princess Grace. It has also served as the home away from home for every US president since Herbert Hoover and has hosted foreign royalty like the Duke and Duchess of Windsor.
And now it's entering a new chapter, though Hilton will continue to manage the property.
Rooms in the Waldorf begin at $399, while rooms in the Towers begin at $699 for suites and $1,299 for presidential-style suites.
The Waldorf hotel first opened in 1893 on the corner of 33rd Street and Fifth Avenue. A few years later, it joined the nearby Astoria hotel and got the name Waldorf-Astoria, after its two owners: William Waldorf Astor and John Jacob Astor IV.
Waldorf Astoria
Source: Waldorf Astoria
The hotel moved to its current location, on 50th Street and Park Avenue, in 1931. When it first opened, President Herbert Hoover said that it was "an event in the advancement of hotels."
Waldorf Astoria
Source: Waldorf Astoria
Conrad Hilton bought the hotel in 1949, and Hilton has managed the historic property ever since.
Waldorf Astoria
Today, the hotel maintains its historic grandeur. Guests entering from Park Avenue face this formidable lobby.
Waldorf Astoria
The public areas have luxurious marble floors and classic, elegant furnishings.
The Towers recently introduced "suite specialists" who cater to the guests of this hotel-within-a-hotel, offering everything from personal butler and concierge service to odd requests like raising the height of the toilets.
The hotel puts its rooftop to good use, cultivating gardens of fresh vegetables and herbs and beehives for honey.
Waldorf Astoria
The Waldorf has hosted dozens of famous guests, including Elizabeth Taylor.
Waldorf Astoria
Lena Horne sang there.
Waldorf Astoria
And every US president since Herbert Hoover has slept in the Presidential Suite.
Waldorf Astoria
There's a hidden train tunnel that runs from Grand Central to the base of the Waldorf Astoria. President Franklin Delano Roosevelt used this secret tunnel to enter the hotel so that people didn't know he was in a wheelchair.
