NEW YORK CITY—Hilton Worldwide Holdings Inc. is reportedly considering selling a stake in the storied Waldorf Astoria here or the entire hotel.
Hilton CEO Christopher Nassetta says the hotel chain may look to reposition the Park Avenue hotel. "We are still deciding on how we may reposition it and who we may reposition it with. Part of this would require capital, so we would look at the option of selling all or a stake in the hotel,” he adds.
The McLean, VA-based hotelier is considering office, retail and residential uses at the Waldorf, according to Bloomberg News.
The size of the 1,232-room hotel prevents Hilton from charging luxury rates, says Nikhil Bhalla, an analyst at FBR & Co. in Arlington, VA. See story at Bloomberg News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
