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NBC: Trump's Companies Suffering

NBC: Trump's Companies Suffering
The exterior of the Trump International Hotel in Washington, D.C. (Beth J. Harpaz/AP)

By    |   Monday, 16 October 2017 01:25 PM

President Donald Trump's companies in the United States and abroad have been taking a financial hit, except for those which get presidential business or are located in areas where his support is strong, NBC News reported on Monday.

According to sporadic data obtained by NBC over the past year, the sprawling brands of the president and his family have been suffering, including golf courses, hotels and fashion.

Trump's two golf courses in Scotland both suffered significant increase in losses in 2016, combined with a double-digit fall in revenue.

At Trump's golf courses throughout the American Northeast and just outside Los Angeles, which are both Democratic strongholds, revenues have also dropped by double digits as attendance has fallen, according to The New York Times.

And in New York City, the five-star Trump SoHo Hotel, which was once a magnet for celebrities, has had to lay off employees, its signature sushi restaurant has closed down, and big-name corporate events, which used to be a mainstay, have gone elsewhere, according to WNYC News.

And on the retail side, Macy's, which just a few years ago prominently featured Trump in its advertising, dropped his signature ties last year after his disparaging remarks about Mexicans.

However, Trump properties being used for presidential business have had their revenues increase, such as at the Mar-a-Lago resort in Florida, which has been a frequent location for Trump to vacation and conduct presidential business. He also doubled the club's membership fee after the inauguration, from $100,000 to $200,000.

Next year's figures, however, are likely to be impacted by some two dozen charities that canceled gala events there after Trump's controversial comments following the violent protests in Charlottesville, Virginia.

The Secret Service has become a frequent customer of Trump businesses, such as spending more than $15,000 at taxpayers' expense to use 19 rooms at the new Trump hotel in Vancouver, when members of the Trump family attended the grand opening in February, The Washington Post reported.

Trump's new hotel in Washington, D.C., which is near the White House, has shown an increase in revenue, as it has become a favorite for businessmen and political jockeys to gain access to power.

There also are the president's properties that are deep in Trump's area of support, such as his golf club in Mooresville, North Carolina, where membership has boomed, private event bookings have increased and real estate sales have soared, according to The New York Times.

The Trump Organization didn't respond to a request for comment from NBC News.

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President Donald Trump's companies in the United States and abroad have been taking a financial hit, except for those which get presidential business or are located in areas where his support is strong, NBC News reported on Monday.
donald trump, trump hotel, resorts, suffering
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2017-25-16
Monday, 16 October 2017 01:25 PM
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