(CNN) – The Roosevelt Hotel has witnessed history since 1924.
The landmark of New York City was the electoral headquarters of Governor Thomas Dewey when he falsely announced that he had defeated Harry Truman in the 1948 presidential election. It has served as the setting for films like “The Irishman” and helped start a New Year’s Eve tradition.
The hotel is an integral part of the Manhattan skyline and features elegant architecture. It is just minutes from Times Square and Grand Central Terminal.
But now the Roosevelt Hotel will no longer bear testimony from films or moments in history.
The hotel will close its doors permanently this year, a spokesman told CNN in a statement.
The Roosevelt Hotel, owned by Pakistan International Airlines, cited the coronavirus pandemic and the subsequent decline in business as the main reasons it ceased operations.
“Given the current unprecedented environment and the continued uncertain impact of COVID-19, the Roosevelt Hotel owners made the difficult decision to close the hotel and staff were notified this week,” the statement said. “The legendary hotel, along with most of New York City, has seen very little demand. As a result, the hotel will cease operations before the end of the year. There are currently no plans for the building beyond its scheduled closure.”
The coronavirus has devastated the hospitality industry, forcing many hotels across the country to take drastic steps to survive. Utilization has hit new lows and many employees in the industry have been taken on leave or laid off.
Additionally, a survey by the American Hotel Lodging Association found that 74% of U.S. hotels say more layoffs will come if the industry doesn’t get additional federal support.
The hotel, named after President Theodore Roosevelt, has also been featured in films such as Maid in Manhattan, Malcolm X and Wall Street.
It was also in 1929 at the Roosevelt Hotel Grill that Guy Lombardo first broadcast “Auld Lang Syne” on New Year’s Eve.