From left: Parc 55 Wyndham in San Francisco, Christopher Nassetta and the Waldorf Astoria
Hilton Worldwide Holdings is looking to buy four hotels from Blackstone Group and other owners.
The hotel chain, which is majority owned by Blackstone, is looking to buy the properties to defer tax payments from its $1.95 billion sale of New York’s Waldorf Astoria to China’s Anbang Insurance Group, according to Bloomberg News. The hotels include the Parc 55 Wyndham in San Francisco, two Waldorf Astoria locations in Key West and one in Orlando.
The other owners of the hotels are Boston-based private equity firm Rockpoint Group as well as Chicago-based Gem Realty Capital and San Francisco-based hedge fund firm Farallon Capital Management, according to the website. [Bloomberg News] — Claire Moses