A hotel owner whose property bore Trump branding has decided to remove the US president’s name from the Trump SoHo hotel as the property has struggled to attract guests since his presidency.
The Trump Organization holds a management contract with the Manhattan hotel which allows it to use the Trump name under licence.
The remainder of the contract was bought out on Wednesday 22 November by investment company CIM Group, which owns the building, meaning by year-end it will no longer be associated with the Trump brand.
The SoHo hotel, which opened in 2010, has had to drop its room rates in a bid to keep them occupied and in May, was set to lay off 12 of its 80 housekeeping staff due to a slow down in business.
It marks the second privately owned but Trump-branded property to cut ties with the organisation after a Toronto hotel signed a deal with JCF Capital and decided to change its name in June.
Bill Doak, a CIM executive, said in a statement: “Under the seasoned management of the Trump Organization, the hotel has been established as one of the finest in New York City with recognition among top critics, including Conde Nast Traveler Magazine and Forbes Travel Guide.
“We recognise and sincerely appreciate their contributions to this exceptional asset and the strong working relationship we have with the Trump Organization.”
