National Accountability Bureau (NAB) Chairman retired Justice Javed Iqbal on Tuesday ordered the director-general of NAB Rawalpindi to launch an investigation into the PIA-owned asset in New York.

“The investigation will review why there was a need to close down Pakistan’s national asset Roosevelt Hotel located in central New York,” said a press release issued by the accountability watchdog. It also said that the bureau will investigate the reasons behind the alleged losses in thousands of dollars to the government.

NAB further said it will identify those responsible for allegedly neglecting their national duties to turn the Roosevelt hotel into a profit-making entity.

Roosevelt Hotel announces closure
Last week, PIA’s iconic Roosevelt Hotel announced that it will close its doors to customers permanently from October 31 due to financial constraints.

“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 notice on the hotel’s website said.

“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,” it said.

The hotel said that it was working on alternatives for guests with a future reservation. “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.”

The statement was later removed from the website and the hotel’s front desk is not accepting reservations post-October 31. When contacted, the staff said that the hotel is being closed but refused to share further details in this regard.


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