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Re: Trump Organization will walk away from its SoHo hotel in New York, a former showpiece that has had trouble attracting guests

By: oldCADuser in FFFT3 | Recommend this post (0)
Thu, 23 Nov 17 2:43 AM | 59 view(s)
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Msg. 38688 of 65535
(This msg. is a reply to 38686 by clo)

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Can't help but ask how much money have the Trump's already taken out of this development and what are the liabilities that the operators/investors are going to get stuck with?




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The above is a reply to the following message:
Trump Organization will walk away from its SoHo hotel in New York, a former showpiece that has had trouble attracting guests
By: clo
in FFFT3
Thu, 23 Nov 17 2:32 AM
Msg. 38686 of 65535

Schadenfreude ;))

The Trump Organization will walk away from its SoHo hotel in New York, a former showpiece that has had trouble attracting guests
Wednesday, November 22, 2017 2:48 PM EST

The Trump Organization has reached a deal that will allow the company to walk away from the 46-story property in Manhattan, the company said Wednesday. It is the second time this year the Trump name was erased from a hotel development, after a June announcement in Toronto.

Located in an upscale neighborhood in a deeply Democratic city, the SoHo hotel has struggled to attract guests at five-star prices and has dropped its rates to keep rooms occupied. 

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NYTimes


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