The Waldorf Astoria is legendary. In the nine decades since its grand opening, the Art Deco inspired hotel has hosted icon after icon – Marilyn Monroe, Grace Kelly, Tony Bennett, Sammy Davis Jr., Frank Sinatra, the Duke and Duchess of Windsor, and many more – gave the culinary world unique and influential dishes (i.e. the Waldorf Salad), and elegantly styled its way into being one of the most prestigious brands in the hospitality industry. “The Waldorf is [still] considered the Tiffany of hotels”, describes marketer Hayes Roth. “It’s a gold-standard name and brand, and it’s also known as where heads of state stay,” he continued. Now, the Waldorf Astoria on Park Avenue has closed its iconic doors to begin renovating three quarters of its hotel rooms into luxury condos. Anbang, Chinese Insurance Firm, dropped $1.95 billion to buy the Waldorf from Hilton in 2014 with high-end renovation blueprints. A developer from Magnum Real Estate Group spoke on the challenges that could lie ahead for Anbang, “it’s a tough time in the market to have such high aspirations, and unless they have some kind of special formula in selling these apartments, it could be a tough lift”. But what if the formula is in the Waldorf name itself? The opulence of the hotel’s name and history could very well be in Anbang’s favor. The celebrated hotel name resonates and ranks high among its competitors. Buyers and investors will look to the Waldorf based solely on the name and reputation, which is simply brand marketing at its best.