Another hotel owner is trying to drop the Trump brand

Trump Organization says Panama hotel is stuck

TRD New York /
Nov.November 28, 2017 09:00 AM

Owners of a luxury hotel in Panama want to shed the Trump brand as room rates, according to some, plummet.

The Trump International Hotel in Panama City is legally required to hold onto the Trump brand, representatives from the Trump Organization told Bloomberg. The Associated Press reported that the hotel’s owners were attempting to drop the brand, marking the third time a hotel has tried to do so this year.

“Not only do we have a valid, binding and enforceable long-term management agreement, but any suggestion that the hotel is not performing up to expectations is belied by the actual facts,” the Trump Organization said in a statement. The company said the hotel has outperformed the market in the past three years. In September, the hotel did 37 percent better than competitors, the Trump Organization claimed.

But London-based FairFx found that room rates at the Panama hotel have dropped 32 percent since President Trump’s inauguration.

Last week, the New York Times reported that the Trump Organization signed a deal with Trump Soho’s owner, CIM Group, to drop its licensing agreement and remove its name from the property. In June, a hotel owner in Toronto reached a similar agreement to drop the brand from the Trump International Hotel & Tower in downtown Toronto. [Bloomberg] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

Trump Tower at 725 5th Avenue and Donald Trump (Credit: Getty Images)

Trump Tower occupancy rates depended on who asked

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

Donald Trump and Dean & Deluca's Soho location (Credit: Getty Images, iStock)

Trump Organization sues Dean & DeLuca over rent defaults

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

Trump International Hotel in Washington D.C. and President Donald Trump (Credit: Getty Images, iStock)

Trump Organization might sell its controversial Washington D.C. hotel

arrow_forward_ios