Chinese insurance company Anbang has paid a whopping USD1.95 billion to buy New York’s iconic Waldorf Astoria hotel from Hilton Worldwide – the biggest price ever for a US hotel. 

The Waldof has 1413 room and and occupies an entire city block on Park Avenue.

Meanwhile, the board of accommodation icon Club Mediterranee has recommended shareholders accept a €22 per share offer from Chinese conglomerate Fosun International, trumping a bid by Italian businessman Andrea Bonomi.

The takeover saga has been dragging on since May, 2013. See Reuters story.

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