Hilton Hotels Corporation’s Waldorf Astoria subsidiary will manage the Waldorf Astoria On The Bund Shanghai in China after signing a deal with Shanghai New Union Building Co.

The 266-room hotel will comprise of two buildings, with the main entrance at the former site of the 1920s gentlemen’s club The Shanghai Club at No 2 on the Bund, which will be connected to a new-build tower behind it.

Amenities will include four restaurants and two bars, a patisserie, a lobby lounge and banqueting facilities. There will also be a swimming pool, a health club and a spa.

The hotel, which will be the first Waldorf Astoria in Asia, is expected to open in 2011.

Martin Rinck, president of Hilton Hotels Asia Pacific, said: “The Bund is a significant part of Shanghai’s vibrant history and there could not be a better location for the first Waldorf Astoria hotel in Asia. The historical significance and neoclassical architecture of No 2 on the Bund is a perfect fit for Hitlon’s classic Waldorf Astoria luxury hotel brand.”