Anbang Launching First Phase of Renovation and Restoration of Historic Waldorf Astoria New York

NEW YORK, NY. November 14, 2017 – Anbang Insurance Group New York Office (“Anbang”) and AECOM Tishman, the premier global construction firm, announced today that the first phase of construction work to renovate and restore the historic Waldorf Astoria New York will begin in December.

Since the Waldorf Astoria New York achieved the designation as New York City’s largest private interior landmark, Anbang has made significant progress towards renovating the property. The development team has advanced design plans, secured permits and carefully moved, preserved and stored prized historic items, including the Cole Porter piano, the World’s Fair Clock Tower, the Kennedy Rocking Chair, and the MacArthur Desk. The company has now appointed AECOM Tishman to spearhead the first phase of construction.

“After months of meticulous planning and careful preparation, we are ready to begin the next phase of the renovation and have assembled an exceptional team to advance the project. We look forward to working closely with AECOM Tishman to carry out one of the most extensive restoration and renovation projects in New York City,” said Brandon Dong, Managing Director of the Waldorf Astoria New York Project of Anbang. “The Waldorf Astoria New York is truly a global icon and quintessential New York City landmark, and our combined team shares a commitment to preserving this historic property’s legacy and restoring its original beauty while elevating it to set a new standard of luxury and hospitality.”

"The Waldorf Astoria New York is where our brand’s history of timeless luxury and inspirational environments began,” said John T.A. Vanderslice, global head of Waldorf Astoria Hotels & Resorts. “We have been working closely and collaboratively with Anbang on the renovation of the Waldorf Astoria New York and we are confident that the restoration will ensure that the hotel retains its rightful place as a focal point for New York City and a premier destination for the world.”

The Waldorf Astoria New York will feature restored public and event spaces, approximately 350 new guest rooms and suites, and approximately 350 residences. Anbang released plans for the building’s landmarked interior and exterior elements in March 2017 that a renowned design team, including architectural firm Skidmore, Owings & Merrill (SOM) and interior designer Pierre Yves Rochon (PYR), prepared.

“It is an honor for us to join a world-class project team assembled for the renovation of the Waldorf Astoria New York,” said Jay Badame, President of AECOM Building Construction and AECOM Tishman. “We fully understand the significance of this massive undertaking and the importance this landmark holds for so many people in New York and around the world, and we look forward to working with the full team to bring this vision to life.”

Waldorf Astoria New York timeline:

•1893: Hotel opened on the present site of the Empire State Building

•1931: Opened at its current Park Avenue location

•1993: Designated an official New York City exterior landmark

•2014: Anbang Insurance Group acquired the property from Hilton Worldwide. Hilton agrees to continue to manage the property under a 100-year management agreement.

•2017: Numerous interior spaces within the hotel are designated as New York City landmarks, including the hotel’s historic Grand Ballroom and iconic Park Avenue Lobby.

About Anbang Insurance Group

Anbang Insurance Group is a comprehensive insurance group headquartered in China, with a global network of over 35 million clients. Anbang’s business areas cover life insurance, property and casualty insurance, health insurance, pensions, banking and asset management. A Fortune Global 500 company, Anbang remains well positioned to growth through the strength of our leading international franchises and their growth potential.

About Waldorf Astoria Hotels & Resorts

Waldorf Astoria Hotels & Resorts is a portfolio of nearly 30 iconic properties in the world’s most sought after destinations. Unified by their inspirational environments and True Waldorf Service, Waldorf Astoria hotels deliver unparalleled, bespoke service from the moment a guest books through check out. Waldorf Astoria is a part of Hilton, a leading global hospitality company. Experience Waldorf Astoria by booking at www.waldorfastoria.com or through the Hilton Honors mobile app. Learn about the brand by visiting http://news.waldorfastoria.com, and follow Waldorf Astoria on Twitter, Instagram and Facebook.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 5,100 properties with nearly 838,000 rooms in 103 countries and territories. Hilton is dedicated to fulfilling its mission to be the world’s most hospitable company by delivering exceptional experiences – every hotel, every guest, every time. The company's portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton Honors. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose exactly how many Points to combine with money, an exclusive member discount that can’t be found anywhere else and free standard Wi-Fi. Visit newsroom.hilton.com for more information and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

About AECOM Tishman

AECOM Tishman is one of the world’s leading builders, responsible for managing construction of high-profile projects such as the World Trade Center, One Vanderbilt and Hudson Yards in New York City, the Metropolis mega development in Downtown Los Angeles and Spire London in the U.K. Spanning over 100 years, AECOM Tishman has built more than 600 million square feet. It’s a legacy that continues to grow as part of AECOM, a fully integrated infrastructure firm with a global network of experts solving the world’s most complex challenges. Visit www.aecomtishman.com for more information.

Contact:

Sara Joseph

646.693.8190

Karla Crockett

703.819.1865

John P. Gallagher

917.291.1134

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