By Ovunc Kutlu
ANKARA (AA) – After nearly a century in business, an iconic Pakistani-owned hotel in New York has announced it will permanently close its doors at the end of this month.
"We at The Roosevelt Hotel have enjoyed being a part of your stories, and an integral part of the history of Midtown Manhattan since 1924," the hotel announced on Facebook early Friday.
"But after almost 100 years of welcoming guests to New York, The Roosevelt Hotel is regretfully closing its doors permanently as of October 31, 2020," it added.
Located at the heart of midtown Manhattan with over 1,000 guestrooms, the hotel opened in 1924 in honor of President Theodore Roosevelt, and has since been open continuously, save a $65 million renovation in the mid-1990s.
Originally built for a cool $12 million (over $180 million in current dollars), the hotel was bought in 1943 by Conrad Hilton – of the Hilton chain – and leased since 1979 by flag carrier Pakistan International Airlines, which bought it outright in 1999.
Although the Roosevelt gave no reason for its closure, the hotel industry in major cities worldwide has been hit hard by the novel coronavirus pandemic.
While Pakistani representations in the US had no official comment, the iconic hotel, valued at over $1 billion today, could either be sold or converted into condominiums, like many former Manhattan hotels.
