Roosevelt Hotel, which is owned by Pakistan International Airlines (PIA) in New York, has closed its doors permanently by the end of this month citing economic reasons.

A statement issued by the hotel administration said, “Due to the current economic impacts, after almost 100 years of welcoming guests to “the Grand dame of New York” The Roosevelt Hotel is regretfully closing its doors permanently as of October 31, 2020”.

The hotel was bought by the national carrier on lease in 1979 and it took over it in 1999.

The message on the website said that the hotel was “working on alternative accommodations” for guests with future reservations.

“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 hotel said.

“We have enjoyed being as much a part of our guests’ stories as we have been an integral part of the history of Midtown Manhattan since 1924.”

Officially, the Pakistan Embassy is referring to all inquiries about the hotel to PIA, which owns the hotel. “We have not been informed yet,” an embassy spokesman said.

Diplomatic sources, however, explained that the PIA still owned the property as the building had not been sold.

“The hotel has been closed like other hotels in the area because the coronavirus pandemic has almost killed the hotel industry,” one such source said.