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Trump's company reaches deal to cut ties with Trump SoHo hotel
The Trump Organization is ending its association with the Trump SoHo hotel, once one of the prize properties of Donald Trump’s real estate empire.
The company, now run by Trump’s two grown sons, Donald Jr and Eric, will end its management and licensing agreement with the Trump SoHo by the end of the year.
The news, first reported by the New York Times, marks the end of the Trump family’s relationship with a property that has attracted scrutiny. The hotel and condominium project was the subject of a fraud investigation by the Manhattan district attorney and was built in a partnership with two controversial businessmen from the former Soviet Union.
In a statement, the Trump Organization announced “the buyout of the remaining term of the management and license agreement of the Trump SoHo Hotel, located at 246 Spring Street in Manhattan” and said the “transition is anticipated to take place by year-end”. ...
The Trump SoHo, located in lower Manhattan near the entrance to the Holland Tunnel, faced a number of challenges. A mix of hotel rooms and condominiums, it struggled to attract business even before Trump became a political figure.
: Trump Organization Reaches Deal To Walk Away From SoHo Property
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Nice spin, when it's the Hotel looking to sever ties.