Posted Oct 9, 2020, 11:47 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
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https://www.reuters.com/article/us-p...-idUSKBN26U1J5
PIA's Roosevelt Hotel in New York to shut down due to weak economy
By Reuters Staff
October 9, 2020
Quote:
The Roosevelt Hotel in New York's Manhattan owned by Pakistan International Airlines (PIA) PIAa.KA announced that it will shut down for good by the end of this month.
“Due to the current economic impacts, after almost 100 years of welcoming guests to The Grand Dame of New York, The Roosevelt Hotel, is regretfully closing its doors permanently as of Oct. 31, 2020,” the hotel said on its website.
A PIA official also confirmed the decision on Friday.
Neither the hotel’s management nor PIA issued any details about future plans.
Pakistan’s government, however, had decided in July not to privatise the asset worth millions of dollars, and instead to turn it into office towers through a joint venture.
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