Does Donald Trump Have Any Real Future in the Hotels Business?
Photo Credit: The Trump International Hotel Las Vegas (pictured) is among several Trump-related businesses struggling under the pandemic. Capitol Hill violence earlier this month may exacerbate the financial pain. Flickr / Prayitno Photography
Skift Take
After Trump's departure from the White House, expect the political polarizations and divisiveness to seep back into the former president's marquee business and future deals. How bad will it be for the bottom line?
The gold is starting to lose its shine, as Donald Trump steps out of the presidential limelight and faces repercussions after the breach of the U.S. Capitol by his supporters.
The hotelier was caught up in multiple scandals during his time in office. This time, the blowback will severely impact his hospitality businesses, according to experts. It's a blowback that will likely spread further than political donations and stumbling blocks to sell a Washington, D.C. property.
This month, several organizations have spoken up.
New York City will cancel its contracts with the Trump Organization for two ice rinks, the Central Park Carousel and the Trump Golf Links in the Bronx, according to the New York Times.
The Trump Organization is the parent company of the former president’s many business entities, including his hotels, Trump National membership golf clubs, real estate developments and licensing agreements, and a vineyard. But the company’s revenues tumbled even before the Capitol Hill riots, dropping from at least $446 million in 2019 to at least $278 million during the span of 2020 and first weeks of 2021, according to the Wall Street Journal.
Trump’s sons, Donald Jr. and Eric, oversaw the company while their father was in the White House. Trump is now returning from Washington to a company in massive disarray.
The Professional Golfers' Association of America has also said it will no longer hold its PGA Championship at Trump's New Jersey golf course next year.
https://vimeo.com/499046096Additional corporate fleeing now puts Trump's hotel businesses and their future viability in jeopardy.
Making a StatementThe CEO of electric bike and scooter rental firm Lime has blacklisted Trump hotels from his company’s travel program.
“Lime has committed to never spending a dime at Trump owned businesses,” said Wayne Ting on Twitter.
Wang not only asked Lime's corporate travel agency, TripActions, to block out the hotels from any search results inside the booking tool; he also wants TripActions to ask other clients to do the same, according to a TechCrunch report.
"When Lime contacted our customer success team, we allowed them to do that," Ariel Cohen, TripActions' CEO and co-founder
