The venerable New York hotel, The Waldorf Astoria, was sold by Hilton to China’s Anbang Insurance company in a deal valued at $1.95 billion. The new buyers will invest in renovating the hotel but Hilton will retain the rights to operate the landmark hotel for another 100 years.
The US State Department has expressed concerns about the renovation of the hotel and thinks that the Chinese may be preparing to bug the hotel rooms which are regularly used to host State Department officials and foreign heads of state during the annual United Nations General Assembly session.
Every US President since 1929 has stayed at the Waldorf Astoria’s Presidential Suite during trips to New York.
