Waldorf-Astoria could go condo

The Chinese owners of the landmark New York City Waldorf-Astoria are reportedly planning to close the hotel for a massive renovation before converting more than 1,000 rooms into condos.

The Wall Street Journal reports that the closure could take three years and when it reopens there would only be 300 to 500 hotel rooms left at the massive property.

The report claims that there would be a vast reduction in room-service, housekeeping and other hospitality jobs.  The WSJ says there are currently about 1,500 hotel employees.

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