The illustrious Waldorf Astoria is about to undergo major changes. The New York landmark will close for renovations, and reopen as mostly condos.
China's Anbang Insurance Group purchased the Waldorf in 2015, and they're currently finalizing their plans for the renovation and conversion. According to the Wall Street Journal, the hotel is set to close in spring 2017, and when it's projected to reopen in 2020, as many as 1,100 of its 1,413 rooms will have been converted into condos. With only 300 to 500 rooms for travelers remaining, there will be a significant loss of hotel jobs.
The 85-year-old hotel has hosted every president since Herbert Hoover, and greats such as Ella Fitzgerald, Frank Sinatra, and the Duke of Windsor and Wallis Simpson.
- Classic Waldorf Hotel to Be Gutted, Up to 1,100 Rooms Turned Into Condos | Wall Street Journal
- The Waldorf Astoria Hotel As You Know It Is Over | Huffington Post