United Kingdom
United States
Asia Pacific
Trump Hotels has laid off hundreds of workers
The Trump Organization has reportedly laid off or furloughed around 1,500 workers, with many impacted at its hotels and resorts across North America.
It has trimmed staff at properties in New York, Washington D.C., Chicago, Las Vegas, Miami, Vancouver and Honolulu, according to public filings.
The covid-19 pandemic has led to the Trump International Golf Club West Palm Beach to miss $50,000 in rent payments and the Trump Organization is reportedly seeking agreement to postpone loan payments to lender Deutsche Bank.
That could prove to be nightmare scenario for the bank and possibly the President himself, as Deutsche Bank is currently being investigated by the Department of Justice over money laundering.
The Washington Post reports there are about $350 million in outstanding loans.
Trump’s shuttered hotels are costing about $650,000 a day in lost revenue.
The Trump Organization was excluded from receiving financial assistance in the coronavirus aid package.
It prohibits businesses ‘controlled by the President, Vice President, Members of Congress, and heads of executive departments from receiving loans or investments from Treasury programs.’
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled