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Waldorf hotel renovations continue despite pressure on owner Anbang

08/23/2018| 11:13:37 AM|

The hotel is expected to reopen in 2021 with about 350 condos, 350 hotel rooms and architecturally preserved public spaces, Anbang said.

Anbang Insurance is moving forward with renovations to Manhattan’s Waldorf Astoria amid expectations the embattled Chinese company will sell other U.S. hotels.

The insurer, which began demolition work at the Waldorf last November, has signed a contract with Aecom Tishman to cover the second phase of the project, according to a statement Tuesday. The hotel is expected to reopen in 2021 with about 350 condos, 350 hotel rooms and architecturally preserved public spaces, Anbang said.

Anbang’s plans for the famed Park Avenue property has been fodder for speculation ever since the company acquired it for USD 1.95 billion, a record price for a U.S. hotel. 

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TAGS: Anbang | Waldorf Astoria
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