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Business Donald Trump The Trump Organization

Trump’s Hotels Are Failing Financially So He’s Trying To Monetize Politics: Report

Business is not good at hotels owned by failed, one-term former President Donald Trump, which has led the Trump Organization to try and sell off some its most well-known properties such as the Trump International Hotel in Washington, D.C., which is quickly becoming little more than a emblem of business failure, the one thing Trump has always excelled at.

Pulitzer Prize-winning Washington Post journalist David Fahrenthold said on the Post Reports podcast Wednesday that Trump has come to the realization that he has to start dumping some of his most prized hotels:

“(The D.C. hotel) was losing millions and millions of dollars. I think they recognize that you cannot make it in Washington, especially with as expensive a hotel as that is, as big of a loan as that hotel has, you can’t make it on one slice of the pie. You can’t make it just on Republicans.”

“It’s not enough. To make that kind of hotel at that luxury level work in Washington, you need everybody. You need embassies and you need conventions. You can’t have a polarized audience. So that’s them admitting, we can’t make this work. … It’s the kind of place that could do really well — it’s got a great location — but not (with the) Trump (name).'”

The Trump name and brand is toxic. Almost no one wants to be associated with the ex-president or anything that carries his now infamous name, Fahrenthold noted.

Additionally, Trump isn’t able to compete with big chain hotels because he can’t offer what they do:

“They’ve always had a structural disadvantage, because you can get Marriott points or Hilton points, or you can get your Trump card points, which you can use at three other hotels. They’ve always had that kind of structural disadvantage being a small chain. Now they’ve polarized their audience. I don’t see that as a long-term venue for the Trump Organization. The Trump hotel in DC, if they can’t make it here with that beautiful building, I don’t really see how they can make it anywhere.”

All of this, Fahrenthold concluded, means that Donald has to try and find another source of revenue:

“The idea that the Trump brand is something that brings in the general public, that demands a premium from the general public above a Hilton or a Marriott, I think that’s over, and they’ll shrink that part of the brand and focus on ways they can monetize politics. They’re doing that now. They have the whole T-Shirt and tchotchke shop online where you can buy Don Jr.’s book, and a MAGA hat, and an $85 candle that says ‘Trump’ on the side.

“There’s that, and then there’s this new digital venture, that are meant to monetize Trump’s fans.”

The digital venture is what Trump has dubbed “Truth Social,” his social media site that already has numerous problems even though it hasn’t yet formally launched.

Donald Trump is one of the worst businessmen in the world. Despite his bragging, he has no idea how to run a company or make money other than by grifting, i.e. Trump University. So now he’s going to rip off his gullible supporters and make them foot the bill for his lavish lifestyle.

To quote the late P.T. Barnum, “There’s a sucker born every minute.” Or least that’s what Trump is now counting on so he can try and stay afloat financially.

Categories
Business Donald Trump

Top Travel Agency Will No Longer Book Clients At Trump’s Hotels

The top luxury travel agency, Virtuoso, says it will no longer consider Trump Hotels to be a “preferred partner,” a blow to the Trump Organization which is already reeling from the effects of the COVID-19 pandemic and the failed, one-term former president’s role in the January 6 riots at the U.S. Capitol which left five dead, including a Capitol police officer.

According to Luxury Launches:

“This bears awful news for the ten hotels that operate under the Trump brand. Virtuoso is the travel industry’s most prominent and undisputed player, with a far-reaching global network of more than 1,100 agencies involving 22,000 advisers in over 50 countries. Virtuoso works on the motto ‘the best of the best.’ This quiet elimination of all 10 Trump-branded hotels and resorts from its list of preferred partners will lead to severely hamper Trump’s hotel management and licensing business, which is already down $24 million since 2019, as well as his golf resorts in Miami and Europe, which are down another $120 million.”

Why exactly did Virtuoso drop Trump Hotels from their list of partners? According to Misty Belles, the managing director of global public relations for Virtuoso:

“We consider many variables when reviewing both existing and new network participation. Out of respect for all involved parties, and as a general policy, we do not share comments regarding our nonrenewal and exit decisions.”

This latest news comes as recent reports have suggested that Trump Organization could be on the verge of complete financial collapse, due partly to a downturn in the travel and hospitality sector and also as a result to bad management (the company is run by Trump, along with his three eldest children, Don Jr., Ivanka, and Eric, all of whom are among the most inept business owners on the face of the planet.

Additionally, the former president is also facing major legal threats from multiple jurisdictions, among them Georgia, the District of Columbia, and New York,

It’s beginning to look like Donald Trump may soon be broke and incarcerated. No one is more deserving of that fate than him.

 

Categories
Business Donald Trump Economics

Trump’s Washington, DC Hotel Is Facing Financial Collapse: Report

After the Supreme Court ordered Donald Trump’s tax returns handed over to the Manhattan district attorney’s office on Monday, the failed former president may have thought the news couldn’t possibly get any worse for him. But he was wrong.

Trump’s hotel in Washington, D.C. is also facing complete financial collapse, according to a report from CNN, with correspondent Brian Todd noting:

“It wasn’t that long ago the Trump International Hotel was buzzing, but tonight there are serious questions about its future. With Donald Trump out of office, there now seems to be little to attract guests to his gilded hotel.”

The Trump International Hotel was formerly the Old Post Office Building before Trump purchased and renovated it prior to taking office in 2016. But Todd said the coronavirus pandemic has been a big blow to the D.C. hotel bearing the Trump name:

“Despite its ornate lobby, the Trump International Hotel, like other high-end locations, has been ravaged by COVID. On a recent weekend evening, a CNN employee who shot this video saw decent crowds in the lounge and at the steakhouse, but few people staying in the hotel. The next day during a weekend brunch period, our employee observed the lobby area was lifeless. Scenes consistent with the view from the editor of a newsletter who has kept close track of Trump hotels.”

Todd visited the Trump D.C. hotel and said it appeared almost deserted:

“During our recent visit, a staffer noted it’s normal to have a slowdown at this time of year, but also said because of everything going on it had in a different time. A different time from the days just before Donald Trump was elected president, the Trump International opened, touted as a crown jewel in his real estate empire.”

The entire Trump Organization is facing a severe downturn its revenues, and there are even rumors that Trump’s company could be on the verge of a fiscal meltdown, especially now that no banks will loan him money and no businesses want to be associated with him in anyway.

Looks like karma is finally starting to take a nasty bite out of Donald Trump.

Here’s the video from CNN: