The landmark Roosevelt Hotel in New York City’s Manhattan area is closing after over 96 years in operations. Owned by Pakistan International Airlines (PIA), Roosevelt Hotel with over 1000 rooms is one of the many hotels that have decided to close amid the Coronavirus financial crisis.
“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 in a statement.
The Roosevelt Hotel has appeared in many blockbuster movies like The Boiler Room, Wall Street, Quiz Show, Presumed Innocent, Malcolm X, Monday Night Mayhem, The French Connection, Hanky Panky, Men in Black 3, The Dictator, Man on a Ledge, Maid in Manhattan, The Hoax, 1408, etc.
According to Reuters, Pakistan International Airlines (PIA) as accumulated over $4 billion of losses with many of its flights being grounded right before the Covid-19 pandemic started.
In May, PIA was struck with a major tragedy when one of its flights crashed in Karachi killing 97 out of 99 people on board.
Accoding to Reuters, 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.
Donald Trump was reportedly interested in buying the property. However, In July 2020, Imran Khan-led Pakistan Tehreek-e-Insaaf’s government decided to not privatize the asset worth millions of dollars, and instead turn it into office towers through a joint venture.
The Roosevelt was built by Niagara Falls businessman Frank A. Dudley and operated by the United Hotels Company after opening on September 23, 1924.