Waldorf Astoria New York to Close in Spring 2017

Waldorf Astoria Beverly Hills
Waldorf Astoria Beverly Hills

Big hotel news out of New York. The Wall Street Journal headline says it all: “Classic Waldorf Hotel to Be Gutted, Up to 1,100 Rooms Turned Into Condos.” Anbang Insurance Group Co., the Beijing-based company, acquired the Art Deco landmark for $1.95 billion last year-- what Bloomberg describes as “a record price for a U.S. hotel.”

Now located at 301 Park Avenue, the Waldorf Astoria New York was first opened in 1893. (The five-star hotel has existed in its current location since 1931, and has a storied history hosting illustrious guests.)

As reported by The Wall Street Journal, the 1,413-room hotel will be closed in spring 2017 for a massive overhaul. The construction project will take up to three years, as many of the rooms will be converted to luxury condominiums and apartments. The owner’s plans are still being finalized, but an insider says as many as three-quarters of the rooms will be lost. The luxury hotel is currently managed by Hilton Worldwide Holdings Inc.

Free Luxury Travel Newsletter

Like this story? Subscribe to The Dossier

Luxury Travel Advisor’s only newsletter, covering unique destinations and product news for affluent travelers. Delivered every Tuesday & Thursday.

Suggested Articles

The Garden House comes complete with a private roof terrace that’s perfect for al fresco meals and taking in the city views. Read more here.

Fischer-Rosenthal Consulting provides expert guidance to hotel owners, developers and operators. Learn more here.

Located on the shores of Lake Maggiore in Ascona, Switzerland, Hotel Eden Roc has unveiled a "Garden of Eden" concept for the summer season.