The Trumps are cutting ties with the five-star Trump SoHo hotel after business plummeted post-election




 

Sarah Jacobs/Business Insider


Trump SoHo - the Trump Organization-run, five-star Downtown Manhattan hotel - will no longer carry the Trump name or be affiliated with the family.

Jessica Rinaldi/Reuters

On Wednesday, the Trump Organization reached a deal to allow the company to cut ties with the property, The New York Times reported.

According to The Times, the hotel has struggled to fill rooms and sell condominiums as President Donald Trump has risen in political prominence.

Koi, a restaurant located in the hotel, closed earlier this year after a reported drop in business following Trump's win in the 2016 election.

"Before Trump won we were doing great. There were a lot of people we had, our regulars, who'd go to the hotel but are not affiliated with Trump," Jonathan Grullon, a busser and host at the restaurant, told New York Magazine's GrubStreet. "And they were saying if he wins, we are not coming here anymore."

Another restaurant worker told GrubStreet that, following the election, "the Kardashians stopped coming" - and business plummeted. While Suzanne Chou, Koi Group's general counsel, "declined to speculate" why business declined, she said that "obviously since the election it's gone down."

A new restaurant called Spring & Varick recently opened in the space that formerly belonged to Koi.

Earlier this year, WNYC reported the five-star hotel was planning to lay off workers and reduce some of its services.

The hotel will continue to be owned by CIM, an investment firm in California. Now, however, the Trump Organization will no longer manage day-to-day operations or brand the hotel under the Trump name.

In 2010, the Major Economic Crimes Bureau of the Manhattan District Attorney's office opened an investigation into Ivanka and Donald Trump Jr. for reportedly misleading buyers in the Trump SoHo project. Manhattan District Attorney Cyrus Vance Jr. dropped the case after receiving a donation from the Trump Organization's lawyer, Marc Kasowitz, as ProPublica reported in October.

NOW WATCH: I spent a day trying to pay for things with bitcoin and a bar of gold

See Also:

SEE ALSO: Ivanka and Donald Trump Jr. were once under investigation by the DA for a failed condo project

COMMENTS

More Related News

The Latest: Sources say deal reached on tax overhaul
The Latest: Sources say deal reached on tax overhaul

WASHINGTON (AP) - The Latest on the Republican tax overhaul (all times local):

FBI agent removed from Russia probe called Trump an
FBI agent removed from Russia probe called Trump an 'idiot'

Two FBI officials who would later be assigned to the special counsel's investigation into Donald Trump's presidential campaign described him with insults like "idiot" and "loathsome human" ...

Democrat Jones wins U.S. Senate seat in Alabama in blow to Trump
Democrat Jones wins U.S. Senate seat in Alabama in blow to Trump
  • US
  • 2017-12-13 03:42:41Z

Democrat Doug Jones won a bitter fight for a U.S. Senate seat in deeply conservative Alabama on Tuesday, U.S. media projected, dealing a political blow to President Donald Trump in a race marked by accusations of sexual misconduct against Republican candidate Roy Moore. The stunning upset by Jones makes

U.S. not granting loan relief to defrauded students: inspector general
U.S. not granting loan relief to defrauded students: inspector general
  • US
  • 2017-12-11 22:47:56Z

The U.S. Education Department under President Donald Trump and Secretary Betsy DeVos has stopped cancelling the student-loan debt of people defrauded by failed for-profit schools and those borrowers face mounting interest and other burdens, its inspector general said on Monday. DeVos is seeking to redo the process for cancelling the debts of people who attended Corinthian Colleges, which collapsed in 2015 amid government investigations into its post-graduation rates, and other failed schools. In the final days of his administration, President Barack Obama approved rules speeding up the debt cancellations.

White House Slamming Media
White House Slamming Media's Mistakes Is Height Of Hypocrisy

WASHINGTON ― White House press secretary Sarah Huckabee Sanders lashed out at reporters on Monday in response to multiple high-profile corrections to news stories this month, falsely claiming that journalistic outlets do not regularly take responsibility for mistakes and intentionally publish inaccurate information.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.