With economy sinking, Trump’s own business is in peril | Malay Mail

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WASHINGTON, March 25 — As if presiding over the threatened destruction of the US economy by the coronavirus pandemic is not enough, President Donald Trump is watching another financial drama: The Trump Organisation hotel, golf course and real estate business that made him a billionaire. His...

Trump International Hotel in Washington, DC. — AFP pic

Like other hotels around the country, Trump’s have been forced to lay off most workers and face the fact that the US$435 million in revenues that the Trump Organisation reported in 2018 is likely to plummet this year. “Our country — it’s not built to shut down,” Trump said Tuesday, calling for an end to restrictions by the second week of April. “You can destroy a country this way by closing it down.”Neither Trump nor his sons who oversee the company have detailed the financial damage they face.

“It’s hurting me and it’s hurting Hilton and it’s hurting all of the great hotel chains all over the world,” Trump said Saturday.“The hotel is open, the restaurants are closed, the spa is closed, the pool is closed,” a receptionist at the Trump International Hotel & Tower on Central Park in New York told AFP, not giving her name.

“It doesn’t make sense for them to stay open. The hotel has like 3 per cent occupancy,” said Boardman.Profiteering allegations

 

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