Nothing illustrates the once-sterling brand name’s fall from grace more clearly than the Trump International Hotel’s current troubles, which has been snubbed by Hollywood personalities ahead of the Toronto International Film Festival next month.
“Interest in hosting festival events has fallen off, and the hotel — which is not actually owned by Trump — is losing functions it had already booked,” The Wrap
Officials maintained that the 261-room, 118-condo-space hotel remains as lucrative as ever, though.
“Trump International Hotel & Tower Toronto continues to exceed expectations across a variety of metrics, including market share, group bookings, and reservations volume. In fact, the hotel is having its most profitable year since opening,” a hotel spokesman said.
Famed investor and billionaire Alex Shnaider, who holds a $300 million outstanding loan, has placed the building on the market since May. Any would-be buyers would have the option to remove the “Trump” signage from the top of the building.
This is not a uniquely Canadian phenomenon. Trump’s belligerent statements against various groups and scathing attacks on political opponents have also shooed away people from New York City’s Trump Hotels, with data from FourSquare revealing that foot traffic around the building shrank by 17 per cent year-over-year last month.
Cape Breton an increasingly popular prospect
Sizzling markets on investors’ radar
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With Republican Party nominee Donald Trump continuously making headlines months prior to the U.S. presidential election in November, the mogul’s penchant for controversy has basically turned the phrase “there is no such thing as bad publicity” on its head.