2. New York Hotel Sells For Almost $2 billion.

  • Landmark New York Hotel, Waldorf Astoria, sold to Chinese company Anbang Insurance Group for $1.95 billion. 
  • Company plans extensive refurbishment to restore art deco features; Hilton sign 100 year deal to continue operating the hotel.
  • Anbang Insurance a Beijing based firm with 30,000+ employees.
  • Hotel forms part of Anbang's overseas investments with stated mission of 'stable, long term returns'.