The owners of the Trump International Hotel in Panama are working to get US President Donald Trump’s name removed from the front of the 70 story building, as well as to fire the hotel management company that is run by Trump’s family, according to reports. This represents a change of direction for the ownership, which once paid at least $32 million in order to associate with Trump.
This news comes after reports that Trump was essentially being paid to end a very similar management contract for the Trump Soho hotel in New York City, and it would seem to indicate that the Trump Brand is continuing to struggle worldwide outside of strongholds that the president is known to frequent or encourage foreign visitors to occupy, strongholds such as Mar-a-Lago in Florida and the Trump Hotel in Washington D.C.
The hotel in question is located on Panama City’s waterfront, housed within a 70-story tower that is shaped like a wind blown sail. The Trump Organization, for its part, has acknowledge to international media outlets that the owners of the hotel are making an effort to strip away the brand as well as the associated management company, emphasizing that the organization believes this constitutes a contract violation.
This is very much a luxury hotel, one that gives visitors the chance to relax with cocktails next to an edgeless pool on the 65th floor that gives the impression that it floats above the ocean. Even so, all indications are that it has begun to struggle with poor occupancy rates.
Trump does not have a favorably image in Latin America or much of Europe, and the belief is that this has harmed business to the hotel, which depends on both Latinos and the European tourists who favor South America so heavily as a vacation destination.
The Trump Organization is somewhat famously litigious, and as such there is likely to be legal action involved with whether or not the name continues to be associated with this hotel. If, however, the effort is successful, this would mark another setback for the Trump hotel business, which is already somewhat deficient in terms of being an international chain that is able to successfully cater to business clients.
Let’s take a look at a few other projects currently under construction by Trump Hotel Collection:
|The Estates at Acqualina
When complete, The Estates at Acqualina will offer luxurious residences from three to seven bedrooms in two, 50-story boutique towers [READ MORE]
|Trump Resort and Residences Bali|
|Trump Hotel Collection Lido West Java
“TRUMP HOTEL COLLECTION is involved in the master plan of this spectacular development, which will include the first Trump golf course in Asia as well as a world-class spa [READ MORE]