Pakistan International Airlines (PIA) has signed an agreement with the management of the New York City Health and Hospitals Corporation to lease out the Roosevelt Hotel in the state of New York, USA.
According to the agreement, the local corporation will operate the hotel for three years and provide accommodation for “housing migrants.” The agreement also includes an 18-month guarantee from the corporation to PIA Investment Management. The hotel had recently resumed its operations following the new agreement.
Last month, the Economic Coordination Committee (ECC) of the Cabinet approved the formation of a committee to negotiate with the New York City government and the Roosevelt Hotel Union for the hotel’s reopening. The PIA-IL management had received an opportunity from the New York City government to utilize the hotel’s 1,025 rooms for migrant business for three years. The ECC allowed PIA-IL/RHC to use funds for reopening the hotel.
