Post by Ff2 on May 24, 2017 13:50:09 GMT -5
Trump SoHo hotel plans layoffs amid nosediving corporate event business
RICH SCHAPIRO
NEW YORK DAILY NEWS
Wednesday, May 24, 2017, 10:44 AM
Trump SoHo is suffering bigly.
The once-celebrated hotel is planning layoffs and other cost-cutting measures as its corporate event business has nosedived since Trump took office, according to WNYC.
The 46-story hotel booked 29 large corporate events from January to mid-May of last year for such major firms as Citibank, GE and Amazon.
The tally plummeted to 11 this year, with far fewer well-known companies, WNYC reported.
Those aren’t the only signs of Trump SoHo’s downturn.
Rooms go for less than $400 a night — much cheaper than other five-star hotels — and Koi restaurant has bolted a month earlier than planned.
“That sounds to me like a financially troubled hotel,” said Jan de Roos, a professor at the Cornell Hotel School.
Roos said the cuts will likely do little to reverse the trend because the hotel’s problems have everything to do with its name.
“I have to believe that a lot of organizations would not want to have meetings at a Trump Hotel just to not have to deal with it,” he added.
A Trump organization rep declined to give specifics on the hotel’s business, but downplayed the issues highlighted in the WNYC report.
RICH SCHAPIRO
NEW YORK DAILY NEWS
Wednesday, May 24, 2017, 10:44 AM
Trump SoHo is suffering bigly.
The once-celebrated hotel is planning layoffs and other cost-cutting measures as its corporate event business has nosedived since Trump took office, according to WNYC.
The 46-story hotel booked 29 large corporate events from January to mid-May of last year for such major firms as Citibank, GE and Amazon.
The tally plummeted to 11 this year, with far fewer well-known companies, WNYC reported.
Those aren’t the only signs of Trump SoHo’s downturn.
Rooms go for less than $400 a night — much cheaper than other five-star hotels — and Koi restaurant has bolted a month earlier than planned.
“That sounds to me like a financially troubled hotel,” said Jan de Roos, a professor at the Cornell Hotel School.
Roos said the cuts will likely do little to reverse the trend because the hotel’s problems have everything to do with its name.
“I have to believe that a lot of organizations would not want to have meetings at a Trump Hotel just to not have to deal with it,” he added.
A Trump organization rep declined to give specifics on the hotel’s business, but downplayed the issues highlighted in the WNYC report.
