Yahoo Finance Trump Hotels Ditching Name For New Hotels
The new hotels will be called Scion.
Amidst reports that occupancy rates at Trump Hotels have slipped this election season, the company has announced that new brand hotels will no longer bear the Trump name.
The newest line of luxury hotels, geared towards millennials, will be called Scion, the company said.
We wanted a name that would be a nod to the Trump family and to the tremendous success it has had with its businesses, including Trump Hotels, while allowing for a clear distinction between our luxury and lifestyle brands, Trump Hotels CEO Eric Danziger said in a statement.
Although Trump Hotels has said the new name has nothing to do with the eponymous businessmans presidential campaign, empty rooms at the hotels have caused officials to reduce rates during the peak season," according to New York Magazine.
Nightly rates at the newly-opened Trump International Hotel in D.C. plummeted below $500 while practically every other five-star property was sold out for the International Monetary Fund conference two weeks ago. And after his remarks about Mexican immigrants, two celebrity chefs backed out of their contracts to open a restaurant in the hotel.
According to Hipmunk, bookings at Trump Hotels plummeted 59 percent during the first half of 2016 and data from Foursquare shows a 17 percent drop in foot traffic at Trump properties since June 2015, when the reality TV star announced his presidential bid.
Trump Hotels, however, refutes the analysis.
Our business at Trump Hotels is stronger than ever and we are incredibly excited about the future of Scion, the newest brand in our hotel portfolio, Ivanka Trump, who is the executive vice president of development and acquisitions for the brand, said in a statement.
The data reported by both Hipmunk and Foursquare is manipulated to appear meaningful, when, in reality, the information is inconsequential and does not provide an accurate representation of our performance, a Trump Hotels spokesperson told Travel + Leisure.
Scion is expected to open as a four-star lifestyle brand in cities and resort towns. The press release announcing the brand repeatedly mentioned creating a sense of community and engaging visitors in a social club-like atmosphere, in the vein of Soho House.
This article has been updated with comment from Trump Hotels.
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