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.
