So America’s most notorious businessman became the President. Surely that new title can only help all his business ventures, right? After all, he DOES get to charge weekends at Mar-a-Lago to the taxpayers now – even the bar tabs – and then he gets to pocket that money.
He and Vice President Pence can also use his tanking golf resorts as hosts to international heads-of-state.
Don’t forget that hotel of his in D.C., which is a good way for foreign governments, corporate executives, and other allies of his to funnel money to him.
Despite all that, Trump’s business isn’t thriving. It’s doing the opposite. People were NOT happy when he said he was going to hold a huge summit of world leaders at his own resort.
Moreover, his properties have a reputation for corruption, racism, misogyny, and tax fraud. Earlier this year we discovered 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.
According to Cook County, Ill. documents, profits dipped 89% from 2015 to 2018. 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.
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 (ok, HARD right leaning) politician began to divide him and his rich and more urban clients of the hotel.
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.” 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.