The Trump Organization said its luxury hotel in Panama is legally required to keep the Trump brand following an Associated Press report that the 70-story building's owners are trying to remove it, the third such effort this year. "Not only do we have a valid, binding and enforceable long-term management agreement, but any suggestion that the hotel is not performing up to expectations is belied by the actual facts," the Trump Organization said Monday in a statement. The hotel has outperformed the market in the past three years, and did as much as 37 percent better than its competitors in September, the company said. Data gathered by outside researchers tell the opposite story. FairFx, a London-based provider of travel-currency services that has measured Trump room rates since President Donald Trump's inauguration, said Nov. 20 that prices at the Panama hotel fell 32 percent since January.
The Panama property, which resembles a wind-filled sail, was Trump's first hotel-condominium project outside the U.S. The firm pulled out of a Rio de Janeiro hotel project last December after a Brazilian prosecutor began investigating whether pension fund managers were bribed to put money into commercial projects, including Trump's.
Read about this a couple days ago. Sounds like the owners may have a legit path out since Hotel and condo occupancy is sub-par - i.e. it is a severely under-performing property. What do you expect though with Trump's positions and slurs? He's done more damage to his brand so far than I thought imaginable.
This particular Trump hotel has ties to Russian Mafia and money laundering. Probably just a coincidence, right Trump-humpers? thehill.com
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