The Chinese owner of the renowned Waldorf Astoria hotel in New York is reportedly preparing to list the property for sale, just months after its multi-billion-dollar, repeatedly delayed reopening. According to sources familiar with the matter, a company is expected to begin marketing the hotel as early as next month through real estate investment bank Eastdil Secured.

The historic hotel, which occupies a full city block on Park Avenue in Midtown Manhattan, reopened last autumn following an eight-year comprehensive renovation. The project resulted in a smaller hotel with 375 guest rooms and 372 condominium units for separate sale. The sale will include the hotel's adjacent restaurants, shops, and other facilities, while the residential units will continue to be sold individually.

The renovation of the Waldorf Astoria was completed last year, approximately five years behind the original schedule and more than $1 billion over budget. Developers and real estate executives have described it as one of the most complex, and potentially the most expensive, property conversion projects ever undertaken in the United States.

While Hilton holds a 100-year management contract for the hotel, the property's financial details have not been disclosed. According to data firm CoStar, New York City's luxury lodging sector achieved an average daily rate exceeding $580 and revenue per available room surpassing $450 last year, both figures representing historic highs.

Sources indicate that the seller does not expect to recoup the full cost of the project through the sale. However, with an anticipated price tag exceeding $1 billion, only a limited number of potential buyers would be able to afford this flagship property of Hilton's Waldorf Astoria luxury brand. Sovereign wealth funds from the Middle East and Asia, as well as other foreign governments, are seen as potential buyers.