Trumps company fights efforts to shed the presidents name
Late last year, the owners of the Trump International Hotel in Panama made a decision: They no longer wanted to be a Trump hotel. The owners told President Donald Trump’s company they were terminating its management contract.
Last week, the Trump Organization responded with a stern warning.
The company is not walking away, a Trump official wrote. And the owners would regret picking this fight.
“When Trump Hotels prevails,” the company wrote in a letter, the owners “will have millions of dollars in financial liability.”
Since the 2016 election, Trump’s company has found itself in an unfamiliar role: not selling the Trump brand, but trying to save it from condo owners and unhappy partners seeking to shed the president’s name. The Trump Organization has fired back — at times with legal threats.
The root of the disputes is a growing belief among investors in some locales that the Trump brand has turned from an asset to a liability.
“It’s a bloodbath, basically. It’s a financial bloodbath,” said Jeffrey Rabiea, a New York businessman who owns three hotel rooms in the Trump Panama hotel. Like other owners in the building, he blames the Trump company for mismanagement and attributes the low occupancy rates in part to the president’s polarizing brand. “Nobody wants to go there. If you’ve got a Marriott and a Hyatt and a Trump, you’re not going to Trump.”
http://www.heraldnet.com/business/trumps-company-fights-efforts-to-shed-the-presidents-name/?utm_source=DAILY+HERALD&utm_campaign=5d4ccf8715-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-5d4ccf8715-228635337
The Trump brand is toxic.
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