Pakistan, US Begin Roosevelt Hotel Initiative

February 20, 2026 Diplomats World

Roosevelt Hotel Project to Boost US Ties

Pakistan has formally launched a major economic and strategic initiative concerning the future of the Roosevelt Hotel in New York, aiming to maximise financial returns from the property while strengthening economic ties with the United States.

According to the Ministry of Finance, the Government of Pakistan and the Government of the United States officially commenced the project on Thursday in New York. The initiative covers the operation, maintenance, renovation and development of the Roosevelt Hotel, in collaboration with the US General Services Administration.

Finance Ministry Unveils Roosevelt Hotel Development Plan

The ministry stated that the objective of the project is to secure maximum financial benefit from the property in line with the government’s privatisation strategy, while also reinforcing Pakistan-US economic relations.

Pakistan, US Begin Roosevelt Hotel Initiative

Named after former US President Theodore Roosevelt, the century-old building is located in Midtown Manhattan and is regarded as one of Pakistan’s most valuable foreign assets. Islamabad acquired the property in 2000.

However, due to mounting financial losses, the over 1,000-room hotel was shut down in 2020. For a limited period, the property was also used as temporary accommodation for migrants.