New York: The Roosevelt Hotel in New York, owned by Pakistan International Airlines (PIA), finally closed after 94 years. The hotel’s management has notified the New York City government of the closure.
This famous hotel is said to have faced financial difficulties in recent years, and the situation has gotten worse due to the restrictions of the coronavirus. After the virus outbreak, the hotel operated at a loss. The closure caused 431 employees to lose their jobs.
According to US media reports, the announcement of the indefinite closure of the hotel was in March. PIA has a 1,025-room hotel, and PIA has been considering the future of foreign assets.
It is important to note that the virus has lost approximately 750,000 jobs only related to the hotel industry.