Trump Discloses Cohen Payment, Raising Questions About Previous Omission

As part of a voluntary ethics plan, the Trump Organization has not pursued new deals in foreign countries, cutting off an important stream of business that was projected to provide much of its future revenue. The Trump Organization is also subjecting all new domestic projects to vetting from an outside ethics adviser, which appears to have had a chilling effect on certain potential deals: the company has yet to open a new hotel in the United States since Mr. Trump took office.

The Trumps also had a wave of cancellations at the Mar-a-Lago club amid a backlash over the president’s comments about the violence in Charlottesville, Va. last summer.

Faced with these challenges, the company has decided to focus primarily on its existing properties, which consist of 16 golf courses, a winery, seven stand-alone hotels, Mar-a-Lago and a portfolio of commercial and residential real estate properties. While the Trump Organization owns many of those properties, it shifted in recent years to branding and managing properties, rather than owning them outright.

In at least one case, the Trumps began quietly managing a hotel property in Livingston, New Jersey, which is owned by the family of Jared Kushner, Mr. Trump’s son-in-law and adviser. Mr. Trump reported $20,000 in fees on that deal.

And despite rolling out two new and more affordable hotel lines —- Scion, a four-star-chain, and American Idea, a budget-friendly brand — the Trump Organization has only announced one such endeavor, a deal in the Mississippi Delta

The filing showed that Mr. Trump has received $26,667 in management fees related to the project.

The head of the company’s hotel division, Eric Danziger, said in March that the pipeline of current deals is “still very active,” and that he is continuing to line up new Scion and American Idea hotels.

Source link

Leave a Reply

Your email address will not be published.