PIA leases out 1,000-room Roosevelt Hotel in US for three years

PIA leases out 1,000-room Roosevelt Hotel in US for three years

Pakistan

$200 per room per day to be charged for migrants' purpose

(Web Desk) - An agreement has been signed between Pakistan International Airlines (PIA) and the management of New York City Health and Hospitals Corporation to lease out Pakistan-owned Roosevelt Hotel in the US state.

The hotel will be operated by the New York City local corporation for three years and will house migrants.

A settlement agreement has also been reached with the employees’ union of Roosevelt Hotel.

Following the deal, the hotel was reopened.

The Pakistan Stock Exchange sought a response from the PIA administration regarding Roosevelt Hotel.

Last month, the Economic Coordination Committee (ECC) of the Cabinet approved the recommendations of the Ministry of Aviation to form a committee to negotiate with the New York City government and Roosevelt Hotel Union for the re-opening of the hotel.

The Ministry of Aviation had submitted a summary with the recommendation to open the hotel having 1,025 rooms for migrants' purposes at $200 per room per day.