Trump Tower Chicago is bleeding money; others Trump properties in the US and around the world are in “steep decline”

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So America’s most notorious businessman was also the President. Surely that title only helped all his business ventures, right?

After all, he did get to charge weekends at Mar-a-Lago to the taxpayers – even the bar tabs – and then he got to pocket that money.

Donald Trump” by Gage Skidmore is licensed with CC BY-SA 2.0. To view a copy of this license, visit https://creativecommons.org/licenses/by-sa/2.0/

He and Vice President Pence also used his tanking golf resorts as hosts to international heads-of-state.

Don’t forget about his hotel in D.C., which became a good way for foreign governments, corporate executives, and other allies of his to funnel money to him.

Flickr / Gage Skidmore / https://creativecommons.org/licenses/by-sa/2.0/

Despite all that, Trump’s businesses aren’t thriving. In fact, they’re doing the opposite.

Moreover, his properties have a reputation for corruption, racism, misogyny, and tax fraud. Reports disclosed that tenants of Trump Tower in New York were selling their condos and taking a loss just to get away from any connection with Trump. Trump’s Chicago hotel isn’t having much luck either.

Flickr / Gage Skidmore / https://creativecommons.org/licenses/by-sa/2.0/

According to Cook County, Ill. documents, profits have dipped 89% since Trump took office in 2017. While other nearby hotels remained steady or thrived, Trump’s Chicago hotel was tanking.

The company’s lawyers addressed the county in a letter hoping to lower the hotel’s taxes and said, “Performance of [the Trump hotel] is clearly disassociated from that of its competitive set” and said that the problems were a direct reaction to Trump politics.

Donald Trump Rally 10/21/16” by Michael Candelori Photography is licensed with CC BY 2.0. To view a copy of this license, visit https://creativecommons.org/licenses/by/2.0/

They quoted a 2018 Washington Post article which featured a former Trump investor describing the effect of Trump’s political career on his buildings in one statement: “Then the Embarrassment came.”

Former employees at the Chicago hotel say they have seen the hotel’s downward spiral. In 2015, Trump’s newfound political position as a right leaning politician began to divide him and his more urban clients of the hotel.

Donald Trump” by Gage Skidmore is licensed with CC BY-SA 2.0. To view a copy of this license, visit https://creativecommons.org/licenses/by-sa/2.0/

Then after the election, Connor Buhagiar, a waiter who worked in the hotel’s restaurant, Sixteeen, says, “A [supervisor] walked by me real fast and said: ‘Oh, my God, he just won Michigan. It’s over.’” He said that after witnessing Trump supporters cheering at the bar, “I looked out the window and looked back down Michigan Avenue, and I saw a line of protesters coming, already,” to boycott the hotel.

The Chicago hotel isn’t the only one in trouble. The Trump Doral in Miami is also said to be in “steep decline.” A tax consultant for the Trump Organization said it was due to the “negative connotation… associated with the brand.”

“DT” Image via Flickr/The White House

Trump’s company is also seeing a loss with hotels in Manhattan and Toronto. It should be noted that the name “Trump” which used to be a symbol of luxury, has now been stripped from the two Central Park ice rinks to avoid dragging down any more business.

The Trump Organization has declined to comment on the downturn of the brand’s business, but has commented on the Chicago hotel and attribute it’s troubles to “the perceived threat of gun violence” even though no other hotels have seen a decline like that.

The post Trump Tower Chicago is bleeding money; others Trump properties in the US and around the world are in “steep decline” first appeared on TPL News.



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