Financial adviser for Roosevelt Hotel sale ‘quits’

ISLAMABAD: The fin­ancial advisor for the privatisation of the Roosevelt Hotel in New York has resigned, forcing the Pri­vatisation Commission to look for a new firm.

A leading global real estate services firm, Jones Lang LaSalle (JLL), acting as financial adviser for the hotel’s privatisation, has cited a “potential conflict of interest” for its decision.

JLL, which had recommended the joint venture model for the Roosevelt, a 1,015-room historic hotel in Midtown Manhattan...