A Chinese firm buys a legendary American hotel and converts it into a part residential-part hotel complex. If you listen carefully, you could hear the joyous guffaws of thousands of Asian slaves from a few centuries ago. But the Waldorf Astoria is the victim, is a sad thing.
So, the new owners of the hotel, China-based Anbang Insurance Group, which bought the hotel in 2014 for a whopping $1.95 billion, plans to convert 1,000 rooms of the 1,420 room hotel into luxury condos. The remaining meager 420 will be used as a smaller five-star hotel.
Can you fathom why? It is the Waldorf Astoria. Waldorf. All those beautiful moments we saw on the big screen The Great Gatsby (1974), The Godfather III (1990), The Scent of a Woman (1992), The Pink Panther (2006). It isn’t like the hotel will be demolished, but just the thought of its new management and all. It is the end of the world, as we know it.
[ Via : Crainsnewyork ]