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:
“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.