A Washington Post report has uncovered the extent to which Trump properties are taking a financial hit because of their namesake president.
A new report on the Trump Organization’s financial condition is providing a window into the damage the president’s signature brand has taken since he entered the presidential race in 2015.
The Post also reported Wednesday that revenue at the Doral, a luxury resort and golf club, had fallen 18 percent in the two years following the start of Donald Trump’s presidential campaign. A representative for the Trump Organization disclosed to Miami-Dade County that the club’s occupancy rate was 24 points lower than direct competitors’; booking rates were 20 percent lower than at other nearby resorts.
Trump once declared that “being president has cost me a fortune, a tremendous fortune like you’ve never seen before.” And statements from the Trump Organization representative back up this assertion: “There is some negative connotation that is associated with the brand.” However, Eric Trump appeared to disagree vehemently with these analyses. He told the Post that the Trump Organization’s “iconic properties are the best in the world,” adding that the company’s “portfolio is unrivaled by anyone.” Eric Trump, who runs the business' daily operations, waved away the property’s flagging revenues by pointing to the Zika virus and natural disasters, which he claimed discouraged tourists from visiting South Florida.
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