Anbang Insurance deal for Waldorf Astoria raises US security fears
Purchase of New York's Waldorf Astoria by Anbang insurance group raises US concerns over its use by dignitaries, including the president
Concerned about potential security risks, the US government is taking a close look at last week's sale of New York's iconic Waldorf Astoria hotel to a Chinese insurance company.
Officials said they were reviewing the October 6 purchase of the Waldorf by the Beijing-based Anbang Insurance Group, which bought the hotel from Hilton Worldwide for US$1.95 billion.
The terms of sale allow Hilton to run the hotel for the next 100 years and call for "a major renovation" that officials say has raised eyebrows in Washington, where fears of Chinese eavesdropping and cyber espionage run high.
The officials also said the sale could have implications for the US government's longstanding relationship with the hotel, which serves as home to the United States ambassador to the United Nations and hosts the president and hundreds of US diplomats during the annual UN General Assembly.
"We are currently in the process of reviewing the details of the sale and the company's long-term plans for the facility," said Kurtis Cooper, a spokesman for the US mission to the United Nations.
He and other officials said decisions about the future of the relationship with the Waldorf would be made based on cost, Anbang's long-term plans for the hotel, and the government's needs and security concerns.