The Waldorf Renovation: Over Budget, Past Deadlines, a Man Imprisoned

Craig Karmin, a reporter for The Wall Street Journal, dives into the tangled saga of the Waldorf Astoria's renovation. He discusses Wu Xiaohui's surprising $1.95 billion bid and ambitious plans that included extensive restoration and a vibrant social scene. Karmin reveals the implications of Wu's arrest amidst a Chinese crackdown on overseas investments and the project’s remarkable eight-year timeline that pushed costs to an astonishing $6 billion. He shares firsthand insights about the hotel's reopening and its mixed reception.