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Published on : Tuesday, October 25, 2016
Trump Hotels has decided to drop the name of ‘Trump’ from the name of their new hotel brand to draw more guests. According to study, due to the presidential election in USA, the Trump Hotels have witnessed a steady decline in the occupancy rates. Thus, the company has decided to drop the name of Trump from their new brand of lifestyle hotel, which is about to be launched.
The name of the new hotel brand will be ‘Scion’ and the new hotel will focus on Millennials.
The CEO of Trump Hotels Eric Danziger has stated that the new name will allow a distinction between the existing and new luxury and lifestyle brands.
It has been found that because of the presidential election, the Trump Hotels have witnessed a steep drop in the hotel stays. The new Trump International Hotel, situated in Washington, DC has received a drop below $500 in the nightly rates.
According to data, in the first half of 2016, the bookings of Trump Hotels have dropped down almost 59 per cent. Since 2015, the hotels have also witnessed a decrease in the foot traffic.
According to the EVP of development and acquisitions for the Trump Hotels, Ivanka Trump, the business at the hotels is going stronger than ever.