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Waldorf Astoria Cutting 1000 Hotel Rooms Amidst Renovations

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The banquet room at NYC’s Waldorf Astoria

The Waldorf Astoria announced that it will be slashing the number of hotel rooms in the iconic building, while it undergoes its three-year-long renovations. The hotel’s owner, Anbang Insurance Group, announced on Friday that the former Hilton Hotel which boasted 1,413 keys, will see over 1,000 hotel rooms cut. Only a total of 350 hotel rooms will remain at the Waldorf Astoria Hotel located in Midtown at 301 Park Avenue. Anbang will instead be adding 350 residential condos to the historic building. The 47-story art-deco hotel, built in 1931, has shut down operations since the Spring to prepare for the massive makeovers. Anbang has successfully secured permits, and Aecom Tishman will begin the construction in the coming weeks.

As reported by the NY Post, Hilton, which still has a 100-year operation agreement for the hotel, was unpleasantly surprised at the extent of the downsize to its operations, and concerned that the trim in the brand’s flagship location could have a negative impact on its global chain of 30 other Waldorf-branded properties.

Anbang, the Chinese insurance giant, seemed unconcerned with Hilton’s dwindling role, and excited at the prospect of presenting the residential units into the market. It has made statements of reassurance that it will be preserving the landmark property’s exterior as well as its most famous interior features, including the Cole Porter piano, the Kennedy rocking chair, the MacArthur Desk, and of course the World’s Fair clock tower. “We look forward to working closely with Aecom Tishman to carry out one of the most extensive restoration and renovation projects in New York City,” said Brandon Dong, managing director of the Waldorf Astoria New York project of Anbang, in a statement.

By: Ellen Cans

 

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