Although Donald Trump thought that becoming president would rocket his reality television career to new heights, he is quickly learning that being a good president is a lot harder than looking tough inside a mahogany boardroom. With approval ratings in the toilet and his family’s treasonous dealings with Russia, Trump has nothing good to look forward to anymore except for maybe his hotels and made-in-China clothing brands. But now, even those Trump-branded things are falling to pieces. And one of his famous Trump hotels in Toronto, Canada has just told him that they’re stripping his name from the building in an act of defiance.
Because the “Trump” sign from the Trump International Hotel in Toronto was removed, the president is throwing a hissy fit. This removal of the name is the first step in JFC Capital’s buyout deal of the Trump hotel. The new owners do not want the name poisoning their brand and removed it as soon as they took ownership of the property.
And JFC Capital got a very good deal on the 65 story building. Let me tell you…
Although Trump’s name was branded on the building, he never held ownership over the tower. This is a trick he often pulls – he licenses his name to hotels so they can use it on their buildings to drum up business. But it hasn’t worked much in recent years.
Because the building’s original developers, Talon International, thought Trump’s name would draw travelers and customers into the hotel – which it might have done while he focused his attention on firing people on his TV show. Now the Trump name is ruining the business and they were forced to sell off the asset as fast as possible.
The Trump name on the hotel must have scared customers away.
A June report from CTV News summed up exactly why JFC Capital would want the TRUMP name stripped from their building’s façade.
“The rebranding is likely a business move as Trump’s brand was probably hurting demand, said Pankaj Aggarwal, a marketing professor at the University of Toronto-Scarborough, adding that the tower’s Canadian location adds to the case.
“The core value of Canada is somewhat different (than the U.S),” he said, pointing to Canadians’ choice of a Liberal government in the most recent federal election as an example of differing views on issues like immigration.”
Because the hotel was struggling, like many of the things Trump puts his name on, JFC Capital gave a low-ball offer and the sellers gobbled it up. And then in June, the Trump Organization agreed to let the name drop from the building to help the hotel disassociate from the American President because even his own organization seems to understand that the name Trump is now bad for business.
Meanwhile, JFC Capital stands to make a fortune from the hotel. Because they removed the name Trump from the façade, customers are interested in checking out their rebranded building. They plan to convert the hotel into a condominium tower. A simple name change probably would have been enough to drum up more business. But it sounds like JFC Capital are true business tycoons.
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