Sneak peek: Take a look inside the multibillion-dollar Waldorf Astoria New York remodel

The Waldorf Astoria New York is one of the world's most iconic hotels. Its first iteration opened in 1893, and when it moved to Park Avenue in 1931, the location became the largest and tallest hotel in the world (at the time). It has since changed the way hotels operate and what guests expect from a luxury hotel.

The Waldorf Astoria New York also claims a lot of "firsts." It was the first hotel to have telephones in rooms, and it introduced the concept of room service. It even created some of the world's most iconic dishes: the Waldorf salad, red velvet cake and eggs Benedict.

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The hotel's guest list alone, whether they stayed overnight or attended grand balls, is enough to prove the significance of the hotel. Notable visitors include nearly every single U.S. president as well as Winston Churchill, Frank Sinatra, Marilyn Monroe, Grace Kelly and Queen Elizabeth II.

But in 2017, the storied hotel closed its doors for a multiyear renovation that's said to have cost as much as $2 billion. Those renovations include converting 1,400 guest rooms into just 375 and expanding the space to have 372 Waldorf Astoria-branded residences. The hotel is also totally reinvigorating its most legendary features — all the way down to the original metal and plasterwork. Skidmore, Owings & Merrill is doing the renovation work to bring the hotel back to life, and the interiors are by Pierre-Yves Rochon.

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Ahead of the scheduled September reopening, we have learned some fine details. Perfume company Fueguia 1833 has designed a signature scent called "301 Park Avenue" for the hotel. Plus, the cocktail program is being designed by legendary New York mixologist Jeff Bell, of Please Don't Tell fame, and the hotel will have a restaurant called Lex Yard from award-winning chef Michael Anthony. There will also be a 30,000-foot Guerlain Wellness Spa as well as beautifully restored event and meeting spaces.

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How to book: Opening rates at the Waldorf Astoria start at $1,312 per night. There's nothing available for less than 600,000 Hilton Honors points through the end of 2025. If you want to visit this storied hotel, you should wait until January — a slow time for New York City when rates are much lower (and the city's a little slower thanks to the cold and postholiday tourist drop-off). Then, award availability starts at 150,000 Hilton Honors points per night, and cash rates sit at around $1,100 per night.

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