Donald Trump's dreadful campaign may cost him more than the election ― his business is suffering too. He has become so toxic that the Trump Organization's new line of hotels will not even bear his name.
Donald Trump’s self-professed business acumen has always been questionable, given his long history of bankruptcies, failed product lines, consumer fraud, and billions of dollars in losses over the decades. But his presidential campaign has left his name so tarnished that his future business prospects are now in question.
The Trump Organization appears to be aware of the harm to the brand, because their newly-announced line of hotels will not bear the Trump name at all. Instead, the hotels are to be branded “Scion,” a radical departure from Trump’s famous penchant for slapping his name on buildings in giant letters.
The damage to the brand has been significant.
Over the past year, the market share of Trump properties has fallen 14 percent. In the first quarter of 2016, bookings at Trump hotels plunged 59 percent, and data from Foursquare shows foot traffic is flagging.
The Trump Mar-a-Lago resort, a popular site for charity galas, is facing cancellations, with the Susan G. Komen Foundation threatening to relocate a million-dollar breast cancer fundraiser.
The city of New York just rejected Trump’s request to expand his Bronx golf course by annexing local parkland, which was one of the Trump Organization’s only opportunities to increase revenue this year.
And real estate is not the only sector where the Trump Organization has seen losses.
Last year, in response to Trump saying that Mexicans are “rapists,” NBC pulled Trump’s beauty pageants off the air, and Macy’s stopped selling Trump’s clothing line. While Macy’s continues to sell Ivanka Trump’s collections of dresses, handbags, and shoes, they are selling so poorly and facing so many returns that, as of October 19th, 35 items are on clearance. Trump’s son-in-law Jared Kushner has also seen a decline in his business reputation.
One common theory about Trump’s candidacy is that he views his campaign as cheap media exposure for his brand. But if so, his plan was a massive failure.
Another massive failure…