The Roosevelt Hotel, owned by the Pakistan International Airline (PIA), has decided to close its operations permanently from October 31 due to “economic constraints”.
“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 October 31, 2020,” the hotel’s website read.
“We have been honored to serve alongside our wonderful staff and to be a part of our many guests’ and clients’ lives and celebrations, who have graced us over these past nine decades.
“For those guests with future reservations, we are working on communicating alternative accommodations.”
According to people familiar with the matter, PIA now plans to redevelop the site into primarily an office tower over retail space and condominium.