Trump Organization Will Exit From Its Struggling SoHo Hotel in New York
- 6 years ago
Trump Organization Will Exit From Its Struggling SoHo Hotel in New York
The property also carried emotional significance for the family: Not only did Mr. Trump announce the project on “The Apprentice,”
but his elder children — Donald Jr., Ivanka and Eric — were on hand, in 2007, for a glittering launch party.
“We recognize and sincerely appreciate their contributions to this exceptional asset
and the strong working relationship we have with the Trump Organization.”
Overall, the Trump Organization’s portfolio of golf, hotel
and commercial properties brought in at least $597 million in revenue during his 2016 campaign and the first few months of his presidency, down about 3 percent from the prior period, according to the president’s most recent financial disclosure released in June.
As time went on, the connection with Mr. Sater caused headaches for Mr. Trump through the campaign and the first year of his presidency.
The announcement came on his television show, “The Apprentice.” Donald J. Trump would open his second luxury hotel in
New York, a “work of art” in the SoHo neighborhood of Manhattan that would become “an awe-inspiring masterpiece.”
That was 11 years ago.
The more recent struggles at the SoHo tower partly reflect a broader red-blue political divide
that is shaping the Trump Organization’s bottom line: Most Trump golf clubs fared better in areas that supported President Trump in last year’s election than in those that did not, according to the president’s financial disclosure and other business records
Despite the challenges, the SoHo hotel is a signature property in the backyard of the
Trump family empire, making the Trump Organization’s cutting of ties unexpected.
The property also carried emotional significance for the family: Not only did Mr. Trump announce the project on “The Apprentice,”
but his elder children — Donald Jr., Ivanka and Eric — were on hand, in 2007, for a glittering launch party.
“We recognize and sincerely appreciate their contributions to this exceptional asset
and the strong working relationship we have with the Trump Organization.”
Overall, the Trump Organization’s portfolio of golf, hotel
and commercial properties brought in at least $597 million in revenue during his 2016 campaign and the first few months of his presidency, down about 3 percent from the prior period, according to the president’s most recent financial disclosure released in June.
As time went on, the connection with Mr. Sater caused headaches for Mr. Trump through the campaign and the first year of his presidency.
The announcement came on his television show, “The Apprentice.” Donald J. Trump would open his second luxury hotel in
New York, a “work of art” in the SoHo neighborhood of Manhattan that would become “an awe-inspiring masterpiece.”
That was 11 years ago.
The more recent struggles at the SoHo tower partly reflect a broader red-blue political divide
that is shaping the Trump Organization’s bottom line: Most Trump golf clubs fared better in areas that supported President Trump in last year’s election than in those that did not, according to the president’s financial disclosure and other business records
Despite the challenges, the SoHo hotel is a signature property in the backyard of the
Trump family empire, making the Trump Organization’s cutting of ties unexpected.