HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Trump Organization Will W...

Wed Nov 22, 2017, 04:05 PM

Trump Organization Will Walk Away From Its Struggling SoHo Hotel in New York

The announcement came on his television show, “The Apprentice.” Donald J. Trump would open his second luxury hotel in New York, a “work of art” in the SoHo neighborhood of Manhattan that would become “an awe-inspiring masterpiece.”

That was 11 years ago. The 46-story skyscraper, it turned out, was actually an albatross for Mr. Trump — drawing local opposition soon after its unveiling, partisan protests when he became a candidate for president and political scrutiny because of its early ties to a dubious Russian deal maker.

Now, in the latest sign of strain in the president’s family business, the Trumps want no more.

The Trump Organization has reached a deal that will allow the company to walk away from the property by the end of next month, the company said Wednesday. It is the second time this year the Trump name was erased from a hotel development, after a June announcement in Toronto.

https://www.nytimes.com/2017/11/22/business/trump-organization-soho-hotel.html?emc=edit_na_20171122&nl=breaking-news&nlid=50533710&ref=headline

8 replies, 805 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 8 replies Author Time Post
Reply Trump Organization Will Walk Away From Its Struggling SoHo Hotel in New York (Original post)
HAB911 Nov 2017 OP
BigmanPigman Nov 2017 #1
HAB911 Nov 2017 #2
dalton99a Nov 2017 #3
onenote Nov 2017 #4
Princess Turandot Nov 2017 #5
Fred Sanders Nov 2017 #6
onethatcares Nov 2017 #8
anneboleyn Nov 2017 #7

Response to HAB911 (Original post)

Wed Nov 22, 2017, 04:14 PM

1. I hope this has a domino effect

on his other properties around the world.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BigmanPigman (Reply #1)

Wed Nov 22, 2017, 04:43 PM

2. I read somewhere that Mar-A-Dumpo is also in trouble

Reply to this post

Back to top Alert abuse Link here Permalink


Response to HAB911 (Original post)

Wed Nov 22, 2017, 04:45 PM

3. Loser! SAD.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to HAB911 (Original post)

Wed Nov 22, 2017, 04:46 PM

4. Before he was ever a candidate for president I stayed at that hotel -- it was a mess

The rooms were among the most luxurious I'd ever seen. But the hotel itself was very poorly run. The elevators were in a constant state of disrepair (and there weren't enough of them to begin with). You could easily end up waiting 15-20 minutes for an elevator (and walking down 20 or thirty flights of stairs wasn't a very appealing alternative).

Reply to this post

Back to top Alert abuse Link here Permalink


Response to HAB911 (Original post)

Wed Nov 22, 2017, 04:55 PM

5. SoHo was a branded property, not a building ever owned by Trump...

News outlets always refer to those buildings in their headlines in a way that implies he owns them, even if they clarify the facts in the article. (i.e. it's struggling SoHo hotel.) What the headline should read is 'Trump SoHo Hotel owners willing to pay a penalty to remove Donald Trump's name from their building'.

I hope, of course, that Trump lost money in the buyout of the name-branding compared to what they would have received under what remained of the ongoing licensing arrangement, even with the decline in hotel revenues.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Princess Turandot (Reply #5)

Wed Nov 22, 2017, 06:09 PM

6. You are right. Once again a misleading title. The bigger story is the NBA boycott of Trump

branded properties. Did the player's association demand that or an owners decision? That would be headline stuff.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Princess Turandot (Reply #5)

Wed Nov 22, 2017, 06:54 PM

8. all he has is

"branding rights". and if those rights lead to bancruptcies and failures they should be hung on him and him alone. He'd be eating cheese and crapping all over us if they were working.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to HAB911 (Original post)

Wed Nov 22, 2017, 06:24 PM

7. Whos tired of all the winning?!! So much winning!

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread