Why Trump International Hotel’s revenue from room rentals finally ticked up

In the first months of 2018, the Manhattan hotel logged a 13 percent increase--the first since 2015

TRD New York TRD WEEKEND EDITION /
Aug.August 04, 2018 11:06 AM

(Credit from right: Official White House Photo by Shealah Craighead, Beyond My Ken)

It pays to be flexible. When Saudi Arabia’s Crown Prince Mohammed bin Salman came to New York in March he needed some overflow suites that The Plaza apparently couldn’t accommodate, so the guests were sent off to the Trump Organization’s Trump International Hotel.

The “last-minute” five-day delegation was responsible for bumping the Manhattan property’s revenue from rental rooms by 13 percent in the first quarter of 2018–no paltry figure for a hotel that hasn’t reported such gains since 2015, according to a report by the Washington Post.

The circumstances of the profitable visit came to light in a letter the hotel’s general manager Prince Sanders wrote in May.

“Due to our close industry relationships,” Sanders wrote in the letter, obtained by the Post, “We were able to accommodate many of the accompanying travelers.” Neither the Crown Prince nor any members of the royal family  stayed in the Trump hotel, Sanders explained in the letter.

The revelation comes as a federal judge in Maryland permitted a lawsuit to proceed which alleges that President Donald Trump is in violation of the Constitution’s “emoluments clauses”–measures meant to prevent a president from putting their private interests ahead of the public’s–when government business checks into his hotels.

After the Post’s story was published, New York Attorney General Barbara Underwood said she was conducting her own similar investigation into Trump’s New York businesses. [WP]


Related Articles

arrow_forward_ios
Related chairman Stephen Ross (Getty; iStock; Health Pass) 

Related, Cushman & Wakefield use new app to screen workers for Covid

Related, Cushman & Wakefield use new app to screen workers for Covid
Colliers’ Jay Hennick (iStock; Colliers)

Colliers’ profit rebounds

Colliers’ profit rebounds
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)

JPMorgan eyes $600M valuation for Third Ave office tower

JPMorgan eyes $600M valuation for Third Ave office tower
(Getty, iStock)

Hundreds of storage units in New York heading to auction

Hundreds of storage units in New York heading to auction
KABR Group CEO Kenneth Pasternak and 85 Challenger Road in Ridgefield Park, NJ (Photos via KABR)

KABR sells New Jersey building for reported $60M

KABR sells New Jersey building for reported $60M
Gov. Andrew Cuomo and Mayor Bill de Blasio (iStock)

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions
2055 Anthony Avenue and 1416 Ferris Place (Google Maps)

Ved Parkash picks up Fordham Heights apartment building

Ved Parkash picks up Fordham Heights apartment building
(Getty)

When the music stops: Guitar Center could file for bankruptcy

When the music stops: Guitar Center could file for bankruptcy
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...