Struggling Trump Tower Chicago cuts amenities, costs to get by
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Struggling Trump Tower Chicago cuts amenities, costs to get by
Photo: Jose More/VW Pics/Universal Images Group via Getty Images
Trump International Hotel & Tower Chicago is struggling to bring in business amid political backlash against the president, the Washington Post reports.
Where it stands : County documents show profits between 2015 and 2018 for the hotel have fallen 89%, from $16.7 million to $1.8 million. Company lawyers are arguing to have the business' taxes lowered. To keep up, the lavish establishment is cutting costs by leaving jobs open, rolling back amenities and purchasing cheaper supplies.
- Documents show other Chicago hotels are largely remaining steady.
The big picture: A number of President Trump's properties have struggled to keep steady since his administration began. While he visits the establishments often, bringing some benefit, many are still having to adjust.
- The Trump Organization said in October that it was considering selling the lease on its flagship D.C. hotel.
- Two New York Trump ice rinks have been redecorated to remove or downsize the presence of Trump's name.
- The Trump National Doral Miami resort's net operating income fell by 69% over the past two years as of May. Trump tried to steer the upcoming G20 meeting to the resort until he was met with backlash.
Between the lines: Trump is also facing multiple allegations of violating the emoluments clause through his properties, which financially benefit from hosting the president and his events, as well as foreign dignitaries.
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Any Trump hotel....The New Motel 6.
Before he ran for president his profit on the hotel was 17 million. Now it is 2 million. Gee, I wonder why.
Because he was there to run a tight ship. He knew it would be a struggle for the organization without his superior leadership at the helm but it was a sacrifice he had to make for the good of the country.
Didn't realize you were such a comedian !
People realizing what a POS this potUS truly is,
is why people aren't patronizing the pp presidents', palatial ,
soon to be paved over, parking lots.
Dean, you should be writing for the ''Onion''.
Since his kids are running it now it would seem that they are dumber than a bag of rocks.
He claims to have 10 billion dollars of personal wealth. He's 74 years old and doesnt need any more money. Unless he's not really worth all that.
There is no known reason to believe that his kids would be rich without the Trump name so who cares what happens to them.
It appears that the "market" is speaking and people don't want to give this asshole their money when they travel.
He did call his sons morons in an interview once.
Kinda shoots a big hole in the idea that he became president to increase his personal wealth.
A tight ship?!?! Trump has run every business he has owned into the ground.
like the Titanic..?
There are other ways other than hotels.
‘Who built this beautiful place?’ Despite Trump’s visits to his properties, some of his businesses show new signs of financial decline.
NOVEMBER 05, 2019“What a beautiful ballroom,” President Trump said as he walked into a campaign fundraiser recently at a hotel in downtown Chicago.
The Chicago event exemplifies a pattern of the Trump presidency: It was another presidential trip that brought Trump private benefits. The hotel was paid about $100,000 for the lunch, according to a Republican official who helped coordinate it.
Trump’s presence also gave a boost to a property that, like some of his others, is suffering from financial decline.
Profits fell 89 percent from 2015 to 2018, from $16.7 million to $1.8 million, according to documents filed with Cook County, Ill. Trump’s hotel struggled even as other Chicago hotels held steady or thrived.
“Performance of [the Trump hotel] is clearly disassociated from that of its competitive set,” the company’s lawyers said in a letter to the county seeking to lower the hotel’s taxes.
The lawyers said the problem was a reaction to Trump’s politics. They even quoted a line from a 2018 Washington Post article , in which one small-time investor described the effect of Trump’s candidacy on his buildings thusly: “Then the Embarrassment came.”
Trump International Hotel & Tower Chicago, which prides itself on indulgent luxury, is trying to keep up by cutting costs. In a presentation to investors, obtained by The Post, the company described leaving jobs open, cutting back on gifts for high rollers and children, and buying cheaper housekeeping supplies.
As Trump concludes the tumultuous third year of his presidency, it is becoming clear that the political environment he helped create is having consequences for the real estate empire he and his family built
That's amazing! Trump comes to help the country and Obama came to help himself. Trump loses money and Obama has personal windfalls.. Chicago has 50 city council members and only one of them is a Republican. The only thing flourishing in Chicago is crime and homicides.
I don't see how anything could be successful in Chicago. Each taxpayer who lives in Chicago has a debt of over $38,000, due to the financial decisions made by the overwhelmingly controlled Democrat government, who have given the city an "F" for financial condition.
I’ve had enough. Hasta la vista, Chicago and Illinois
OCTOBER 25, 2019 | by Dennis Byrne | CHICAGONOW
There are as many reasons for leaving as there are people fleeing, the weather not being the least of them. But little is to be done about Chicago’s weather. Unlike how the city and state have been ravaged. By the greedy, incompetent and power-hungry. By the boodlers, gonifs and crooks who fancy themselves as the feudal lords and we their vassals. By public employee unions that have turned the idea of ‘public service’ into a joke on the taxpayers, who, in fact, have become the public servants.
Sixpick, over 50 million non residents came to visit Chicago last year, on vacation, on day trips, or on business. It is not that difficult for a well run hotel to do well here.
Dennis Byrne has been a right wing loud mouth in Chicago for decades. He's probably old enough to retire to Florida. Good luck.
World's Largest Starbucks Opens in Chicago Next Week
The world’s largest Starbucks is nearly here, but there are still plenty of questions left for Chicagoans looking to pay it a visit.
The Starbucks Reserve Roastery is scheduled to open Nov. 15 at Michigan Avenue and Erie Street, in the former Crate and Barrel building.
Starbucks says the roastery will feature "an immersive experience dedicated to roasting and brewing small-batch Starbucks Reserve coffee from around the world."
The interactive space will feature multiple brewing methods, a new menu of coffees and mixology and fresh baking on-site.
The company said the Starbucks will be approximately 35,000 square feet and five stories.
According to the company, the Chicago roastery will be the sixth of its kind, joining other roasteries in Milan, New York, Seattle, Shanghai and Tokyo.
"This building has a unique way of becoming a beacon for a brand, and I can’t think of a better retailer than Starbucks to offer Chicago something new and exciting with its Reserve Roastery,” Gordon Segal, founder of Crate and Barrel, said in a statement.
It will be the third roastery to open in the U.S. behind the flagship Seattle location, which opened in 2014.
Will there be special Chicago drinks?
Starbucks unveiled three coffee-infused cocktails that will be served in the new roastery, two of whicfh are only available in Chicago.
Among the Chicago-only options are a Pour Over Bijou, which is described as an "ode to Chicago's stunning architecture, particularly Louis Sullivan's jewel box style," the company announced.
"A continuation of classic cocktail pour overs while highlighting Chicago’s diverse modern metropolis," a release states.
The pour over includes West Java Coffee, Nikka Coffey Gin, Carpano Bianco, Green Chartreuse and Liqueur Strega.
A second Chicago cocktail is called the Roastery Boilermaker, described as "the classic Chicago 'Boilermaker' meets the Stiegl Radler." It had Veranda Blonde Cold Brew, Malort, Koval Four Grain Whiskey, bitters, club soda and grapefruit juice.
"Because you're not a true Chicagoan until you've tasted Malort," the release states.
A third cocktail, an old fashioned, is also already available at the New York and Seattle Roasteriers and features Starbucks Reserve Cold Brew, Iwai Tradition Whisky, Amaro del Capo, New York maple syrup and balsamic vinegar of Modena.
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While I wont be going in there, it might be a minor new tourist attraction on the Mag Mile.
It looks nice, but I've only been to a Starbucks once. It was way too expensive and I make much better coffee at home. The building is beautiful, though.
You know what, I bet people are afraid to stay there. Can you imagine coming out of a hotel that has "Trump" written on the side of it in a city that has 49 out of 50 city council members who are Democrats. A lot of people are afraid to have a Trump sticker on their vehicles, I know I am.
The use of violence to silence your opponents and making people afraid of expressing their views is the epitome of Fascism, ask Maxine.
Trump has really sacrificed a lot trying to help this country. I think history will look back on this time and realize, with the murders on the southern border, who tried to protect the American citizens and who could care less, he was probably the last chance to save this country from those who will destroy it.
I'm not a Starbuck fan but that is one impressive looking coffee shop.
I have only had Starbucks coffee two or three times in my life. Cant remember much about it one way or the other. I do know I wasnt impressed, although I'm sure it is perfectly fine coffee.