Donald Trump, current president of the United States, has interests in 500 companies spread across the globe. The construction market has been the sector where Trump started making his fortune, then entered the television and casinos industry. It is not risky to say that he is a successful man.
Besides being a great businessman, Donald Trump is one of the most controversial characters on the world scene. His controversial comments have unleashed controversy wherever he goes. Phrases like “I could shoot people on Fifth Avenue and I would not lose votes” or “If I win the elections, I’ll return the Syrian refugees home”, are just some cases of their extravagances.
Even so, Donald Trump came to the presidency of the United States with his famous bangs intact. But being so controversial also has its consequences. Not all of Trump’s businesses continue to flourish after being elected president. On December 21, 2017 the Trump Soho Hotel in New York changed its name to The Dominick to boost its profits. The Trump brand has been erased in such a way that the hotel’s offer on facial treatment called Ivanka’s Choice has changed to being called Detox & Glow.
A year later the result has been amazing. At a time when New York’s luxury hotels are weakening, hotel profits have increased 180%, according to Bloomberg. While demand, revenue and occupation have stagnated, according to STR, a US market research firm, Dominick’s revenue per available room has increased by more than 20% over the previous year. To add more data to the Dominick boom, the 391-room, 46-story hotel booked 7,000 more nights in 2018 than in 2017.
Politics and business are sometimes not good friends. Not everyone is willing to stay in a hotel that bears the name of Trump on its facade. There are great personalities who have decided not to stay in their hotels. When Lebron James was a Cleveland Cavalier player he refused to stay with the team at this hotel. If a client is in the city for business and his policies do not coincide with those of Trump, it is better not to show a hotel that bears his name.