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Hilton to sell NY's Waldorf Astoria hotel to Chinese insurer
[NEW YORK] Hilton Worldwide Holdings Inc said it would sell the landmark Waldorf Astoria New York hotel to Chinese insurer Anbang Insurance Group Co Ltd for about US$1.95 billion.
Waldorf Astoria New York is the flagship hotel of the company's luxury brand, Waldorf Astoria Hotels & Resorts.
Hilton Worldwide will continue to manage the hotel for the next 100 years as part of the deal. - Reuters