Closed eight years, restored for $2 billion, reopened July 2025 — the comeback story of American hotellerie.
By Biirdee Travel. Updated 2026-06-10.
The Waldorf Astoria New York reopened on July 15, 2025 after the most expensive hotel restoration ever undertaken — roughly $2 billion over eight years. The math explains the luxury: 1,400 old rooms became 375 enormous new ones (plus 372 private residences above), while the Art Deco landmark interiors — Peacock Alley, the Park Avenue lobby clock, the Grand Ballroom — were restored to their 1931 drawings. It instantly rejoined the city's top tier and anchors the brand's portfolio.
Uniquely among hotels at this level, you can pay two ways: cash from ~$1,100–1,800 a night, or ~150,000 Hilton Honors points — and with Hilton's fifth-award-night-free, a five-night points stay effectively prices each night at 120k. Both routes are playable; they reward different travelers.
| Cash via advisor channel | Hilton Honors points | |
|---|---|---|
| Typical cost | ~$1,100–1,800/night + tax | ~150,000 points/night (5th night free) |
| Breakfast | Included via advisor benefits | Diamond members: daily F&B credit |
| Upgrade | Priority, flagged pre-arrival | Space-available by status |
| Earns points/status | Yes — full Honors earn | No earn on redemptions |
| Best for | Most stays; anyone valuing certainty | Big balances; Aspire-card Diamonds |
Yes — since July 15, 2025, after an eight-year, ~$2 billion restoration. It now has 375 oversized guest rooms (from 1,400 before) plus 372 residences.
Roughly 150,000 Hilton Honors points a night at standard availability. Five-night redemptions get the fifth night free, bringing the effective rate to ~120k/night — fair value against $1,100–1,800 cash rates.
The rooms are now among the largest entry-level rooms of any New York luxury hotel, and Peacock Alley alone justifies a visit. For the full comparison set, see our New York luxury lists.
Cash bookings carry advisor-channel benefits on top of your Hilton earn; if a points redemption beats cash for your dates, we'll tell you and step aside.
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