Aviation Minister rebukes rumors regarding sale of Roosevelt Hotel

Federal Aviation Minister Ghulam Sarwar Khan has strongly refuted rumors regarding sale of Roosevelt Hotel, New York – USA.

Ghulam Sarwar Khan in a statement, strongly denied any plans to sell Roosevelt Hotel, terming such rumors as false and misleading.

Roosevelt Hotel is New York City landmark and a historical building owned by Pakistan International Airlines (PIA).

The 19- storey building was bought by PIA back in 1979 in partnership, followed by the complete acquisition in 1999.

Earlier, the hotel management last week had announced that the hotel will be closed permanently after being operational for around a century.

Named after Theodore Roosevelt – 26th President of the United States of America, the building is located in downtown Manhattan and has even featured in several box office hit Hollywood productions.

The hotel sustained its profitability and financial feasibility till 2018 and since has observed a continuous rapid decline in profits resulting in dire financial circumstances for the management.

The sharp decline in profits are due to deteriorating infrastructure as the hotel has not undergone renovation for the last 20 years, said the Aviation Minister.