Archive · 25 Jul 2025
Pakistan's Roosevelt Hotel Privatization Hit by Advisor's Resignation
Pakistan's government is trying to sell the Roosevelt Hotel in New York.
The company helping them with the sale, called JLL, has quit.
They said they had a conflict of interest, meaning they might have been helping their own clients instead of Pakistan.
JLL had already done some work and suggested how to sell the hotel.
The government is now quickly looking for a new company to take over the job.
The hotel, which has over 1,000 rooms, stopped doing business in 2020 because it was losing money.
Financial advisor for Pakistan's Roosevelt Hotel privatization resigned.
The advisor, Jones Lang LaSalle (JLL), cited a potential conflict of interest.
JLL had recommended a joint venture model for the 1,015-room hotel.
The Pakistani Privatisation Commission is seeking a new financial advisor.
Business at the hotel was suspended in 2020 due to financial losses from the COVID-19 pandemic.
- Who
- Jones Lang LaSalle (JLL) and the Pakistani Privatisation Commission.
- What
- Financial advisor for the Roosevelt Hotel privatization resigned.
- When
- The resignation was announced on Thursday.
- Where
- New York City, US
- Why
- JLL cited a potential conflict of interest.
- Hotel
- Roosevelt Hotel
- Location
- Midtown Manhattan, New York City
- Rooms
- 1,015
- Advisor
- Jones Lang LaSalle (JLL)
- Reason for resignation
- Potential conflict of interest
- Hotel business suspension
- 2020