Pak may sell New York's iconic Roosevelt Hotel as country nears economic ruin

Pakistan is planning to sell the historic Roosevelt Hotel in New York and the Services International Hotel in Lahore to boost foreign exchange reserves, reports said. The country, which purchased the hotel in 2000 via Pakistan International Airlines' investment arm, may use the hotel as it nears economic ruin. The hotel was shut in 2020 as PIA suffered $37-million losses/year.