Another one of Donald Trump’s hotels is going down the tubes
Last week the news broke that Donald Trump was preparing to sell the lease on his Washington DC hotel. This was remarkable news because it was one of the very few profitable properties he has left, and it’s been the home base for most of his emoluments grifting. Now we’re getting a reminder of why is having to sell off his most valuable property for short term cash.
Trump International Hotel & Tower Chicago is now in such bad shape, nearly all of its remaining profitability has vanished. The property can’t realistically survive on the tiny remaining profit margins. But instead of trying something ambitious or innovative to turn things around, the hotel is switching to cheaper amenities and leaving jobs vacant. This is a near-automatic recipe for continued decline – and it means the hotel is rapidly heading toward financial losses from which it won’t recover.
This swift collapse of Donald Trump’s Chicago hotel – as flagged by Raw Story via Axios – means that he’ll either have to sell the property off for no gain, or try to strategically bankrupt it. Either way, Trump is rapidly running out of properties that are turning an actual profit to offset his mounting losses at his weakest properties.
This adds up to a recipe for Donald Trump going broke, which helps explain the series of panic moves he’s made over the past week. He’s selling his DC hotel for cash, which is what you do when you’re in the midst of financial collapse and you no longer have enough cash to cover your debt payments. He’s suddenly changing his residency from New York to Florida, in an obvious attempt at saving a buck. Trump is in trouble – and not just because he’s being impeached.
