Yahoo Finance Trump Keeps His Name Off His New Hotel Chain
In light of some recently uncovered scandals, Donald Trump appears to be doing a bit of rebranding.
In a surprising move, the Trump Organization announced last month that its new chain of luxury hotels - which is aimed at "the ’we’ economy" - would be ditching the Republican nominee’s last name. According to the press release, the "multi-faceted lifestyle brand" will instead be called Scion and will focus on creating a "strong sense of community" for its guests by targeting travelers "looking for a sense of connection." (To quote Trump himself: Sad.)
According to Bloomberg, there are quite a few reasons why the Trump Organization might have decided to distance its new Millennial brand from the Republican nominee. Most notably, Trump has had a rather controversial presidential campaign and has offended quite a few groups of people along the way.
“He’s now a polarizing figure. When he was putting his hotels together, he wasn’t,” former Ritz-Carlton CMO Bruce Himelstein said. “There’s definitely an impact.”
Bloomberg also argues that the decision might be more practical than that, and that it could just be because the new brand is targeting "younger customers who may be turned off by older names that can be seen as stodgy."
However, as Trump Enterprises describes it, the choice of name is still meant to hold close ties to the Republican nominee and his family. In the press release, they explained that Scion means "descendant of a notable family," clearly meant to be an ode to the Trumps.
“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 Chief Executive Officer Eric Danziger said.
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