Another New York City hotel has succumbed to the struggling economy.
The Roosevelt Hotel at 45 East 45th Street is shuttering after nearly a century in operation, Reuters reported. The 1,015-key hotel is owned by Pakistan International Airlines and managed by United Hotels Company.
“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,” the hotel said in a statement on its website, according to the report. Its final day of operation will be Oct. 31.
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The 18-story building, which was constructed in 1924, also has 22,000 square feet of ground-floor retail, according to a loan prospectus from 2014. It most recently underwent an $8.2 million renovation in 2011.
The Roosevelt is just the latest Manhattan hotel to close its doors. In recent months, the W Hotel in downtown Manhattan, the Hilton in Times Square, the Courtyard by Marriott in Herald Square and the Omni Berkshire Place hotel have announced permanent closures.
With a drag on tourism, the hospitality industry has been among the hardest hit by the pandemic. Leisure and hospitality added 318,000 jobs in September, an increase from 174,000 jobs the month prior. Still, it was a rough month for the sector, which saw a large amount of corporate layoffs — largely driven by Disney slashing 28,000 workers in its resort business.
[Reuters] — Danielle Balbi