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Finally moving forward on its renovations into luxury condos, the Waldorf Astoria will no longer be taking reservations after Feb. 28, 2017, with the last checkout slated for Mar. 1, according to a Hilton bookings website.
“We have not finalized any plans in terms of the scope, nature and details of the renovation project or the exact timing and duration of the hotel’s closure,” a hotel spokesperson told Crain’s.
The hotel was purchased in late 2014 by Anbang, which paid the Blackstone Group $1.95B and then announced plans for a $1B, three-year condo conversion, which will see 1,000 of the 1,413 suites become residences, the Real Deal reports.
Ealier this year, Anbang put up a $14B bid for Starwood Hotels & Resorts but backed out of the deal. In May, the insurance giant’s US real estate investment-heavy business model was investigated by Chinese regulators. [TRD]
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