The city of New York pays $220 million to rent the
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The hotel is owned by the government of Pakistan, and the deal was part of a $1.1 billion IMF bailout package to help Pakistan avoid defaulting on their international debt.
Prior to this sweetheart deal, the hotel had been closed since 2020, having long-struggled with occupancy and in dire need of renovation.
https://x.com/WorldHallOfFun/status/1888929610555085121