Left Menu
Development News Edition

PIA's Roosevelt Hotel in New York to shut down due to weak economy

"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.

Reuters | Islamabad | Updated: 09-10-2020 18:55 IST | Created: 09-10-2020 18:55 IST
PIA's Roosevelt Hotel in New York to shut down due to weak economy

The Roosevelt Hotel in New York's Manhattan owned by Pakistan International Airlines (PIA) 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. With more than $4 billion in accumulated losses, PIA was already struggling financially when flights were grounded in March because of the pandemic. Just as it resumed operations in May, a domestic PIA flight crash in Karachi killed 97 of 99 people on board.

An initial inquiry pointed to a number of safety failures, and sparked a disclosure from authorities that nearly a third of PIA's pilots may have falsified their qualifications, prompting EASA, the U.S. Federal Aviation Administration (FAA) and other regulators to ban PIA flights. The Roosevelt, which was opened on Sept. 23, 1924, was built by Niagara Falls businessman Frank A. Dudley and operated by the United Hotels Company.

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.


TRENDING

OPINION / BLOG / INTERVIEW

Turbulence surrounding tobacco control in Ghana

... ...

Smart healthcare: IoT redefining the way healthcare is delivered

As the world is embracing the new wave of digitalization triggered by the pandemic and the arrival of 5G, the adoption of IoT devices will further boom. With adoption set to soar, IoT security issues and other challenges cant be ignored any...

Refugee compassion and response: Ideas to mitigate disasters now and in their future

Their homeland becomes a forbidden territory for them and more likely than not, their journey to foreign soil is no less traumatizing, not to say deadly. It is crucial to help refugees live a life of dignity and purpose....

Inadequate water infrastructure causes a tidal wave of coronavirus in rural Alaska

... ...

Videos

Latest News

Lahore once again ranked world's most polluted city

Lahore was once again found to be the most polluted city in the world, according to US Air Quality Indexs data on Monday. Citing the data, The News International said Lahore reported a particulate matter PM rating of 423.The other city that...

EIB and The National Bank partner to support Palestinian SMEs

The European Investment Bank EIB supports the resilience of the Palestinian private sector with a USD 50 million line of credit extended to The National Bank TNB to be on-lent primarily to local small and medium-sized enterprises SMEsThis ...

Rajasthan reports over 2K fresh COVID-19 cases, 20 more deaths

Rajasthan on Monday reported 20 more deaths due to COVID-19, while 2,677 fresh cases pushed the states caseload to 2,68,063. The states COVID-19 death toll has reached 2,312 and the number of active cases stands at 28,653, according to a he...

Islamists attack three French military bases in Mali

Al Qaeda-linked Islamist fighters rocketed French military bases in Kidal, Menaka and Gao in northern Mali within the space of a few hours on Monday morning, a rare sign of coordinated raids on international forces. The camps were hit by in...

Give Feedback