Hilton Worldwide to Sell Waldorf Astoria New York for $1.95 Billion
10.06.14
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Simpson Thacher is representing Hilton Worldwide Holdings Inc. (“Hilton Worldwide”) in its announced agreement with Anbang Insurance Group Co. Ltd. (“Anbang”) to sell the Waldorf Astoria New York for $1.95 billion. Hilton Worldwide will be granted a management agreement by Anbang to continue to operate the property for the next 100 years.
The Waldorf Astoria New York is the flagship hotel of Hilton Worldwide’s luxury brand, Waldorf Astoria Hotels & Resorts.
The Simpson Thacher team includes Gregory Ressa, Erik Quarfordt, Alison Ando, Dan Liang and Kathryn Altomonte (Real Estate); John Hart and Michael Cardella (Tax); Edgar Lewandowski and Kirsten Davis (Capital Markets); and Greg Grogan and Andrew Blau (ECEB).