Pakistani International Airlines Closes Roosevelt Hotel In New York

Roosevelt Hotel (more than 1,000 rooms) in New York City that opened its doors in 1924 is set to close this month based on information the hotel posted on its website and a statement released to CNN.

The famous hotel was once owned by Conrad Hilton and has been leased and owned by the Pakistani International Airlines (PIA) since 1979.

You can access the Roosevelt Hotel here.

Here’s a statement that the hotel released to CNN:

“Due to the current, unprecedented environment and the continued uncertain impact from COVID-19, the owners of The Roosevelt Hotel have made the difficult decision to close the hotel and the associates were notified this week,” the statement read. “The iconic hotel, along with most of New York City, has experienced very low demand and as a result the hotel will cease operations before the end of the year. There are currently no plans for the building beyond the scheduled closing.”

Here’s a search I made on the hotel’s website:

There is no availability past October 29, indicating that the hotel will indeed close or suspend its operation at the end of October.

Conclusion

There have been industry estimates that 20% of the hotel supply in New York City would disappear due to the Covid-19 and the travel slump associated with it.

The city hoteliers are in a tough spot because it will take a few years for the sector to recover after the pandemic is over. It may be too late for many to continue servicing their debts.

PIA has owned this hotel for a long time (was able to buy it at the right price), and it has a rich history as well. It would be sad to see its to close the doors permanently.