The New York Waldorf Astoria sale – a Chinese spy story in the making?

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Written by Linda Hohnholz

A US landmark hotel and security and spying is a concern by the US government.

A US landmark hotel and security and spying is a concern by the US government. This Waldorf Astoria New York Hotel was not only scene of many Hollywood movies, was frequently the venue of world news, it has played host to US envoys to the United Nations for more than 50 years.

This New York Hotel purchase is being investigated by the government of the United States. When Hilton Worldwide Holdings announced on October 6 that it was selling the regal Waldorf Astoria hotel and residences to the Beijing-based Anbang Insurance Group for $1.95 billion, it caught the attention of the US government.

The president of the United States is a frequent guest of the Waldorf Astoria hotel in New York, and it also happens to be the residence of choice for US envoys to the UN โ€“ and now its sale to a Chinese firm is raising security concerns in Washington.

China may be the next landlord and owner of this hotel. It will be the first purchase in the United States for Anbang Insurance Group. The company โ€“ which is controlled in part by members of Chinaโ€™s ruling class and relatives of some Communist revolutionary leaders โ€“ was started in 2004 with seed money from nationalized industries like Sinopec oil. The company is headed by Wu Xiaohui, who is married to the granddaughter of Deng Xiaoping, the former leader of China, The New York Times reported.

US Ambassador to the UN Samantha Powers also has a residence at the hotel, and it hosts many heads of state and government.

Hilton Worldwide Holdings told the US news agency Reuters that it would continue to manage the hotel for Anbang for the next 100 years and that the property would โ€œundergo a major renovation to restore the property to its historic grandeur.โ€

The deal is scheduled to close on December 31, but if the closing time is delayed, the sale must be finalized no later than March 31.

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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