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Roosevelt Hotel owned by PIA is closing its doors this October!

The iconic Roosevelt hotel of PIA will be closing its doors in NewYork at the end of this month. With many businesses closing down due to the pandemic this Hotel is also closing down due to financial constraints.

History of the Roosevelt hotel starts in 1924 constructed by Niagara Falls constructor managed by United Hotels Company. However, in 1979 the national career leased the hotel through PIA investment Ltd with the option to purchase the building after 20 years. Finally, in 1999 PIA bought the hotel for $36.5 Million. Since 100 years the Hotel has been serving guests.

“We have been honoured 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,” the notice mentioned.

The hotel’s staff refuses to give more details regarding the shutdown and not even taking any reservations post 31st October. The development comes after the Economic Coordination Committee (ECC) on September 2 approved funds worth $142 million to address the financial challenges faced by the PIA-owned Roosevelt Hotel in New York, US.

 

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