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Wed May 24, 2017, 11:14 AM

Trump SoHo Plans Layoffs

Source: WNYC News



May 24, 2017 ∑ by Ilya Marritz and Andrea Bernstein

In its heyday, Trump SoHo was a destination. Celebrity-filled limos regularly pulled up, and delighted tourists snapped selfies in front of the glassy tower. Rooms at the five-star hotel cost over $700 a night, and the Koi restaurant on the ground floor rocked.

But five months into the Trump administration, it turns out that the Trump name may be undesirable in lower Manhattan. Bookings for corporate events are down sharply, and the hotel is planning layoffs.

Today, you can find rooms for under $400 a night, several hundred dollars less than other five-star Manhattan hotels ó less even than some four-star hotels. Citing a post-election slump, Koi Restaurant has left a month earlier than planned, leaving an empty locked space off the lobby. And managers are prepared to lay off twelve room attendants (out of a housekeeping staff of 80) and eliminate turn-down service, two sources confirmed to WNYC.

Documents reviewed by WNYC show the hotelís conference and events business is also suffering: last year, the hotel booked 29 large corporate events between January and mid-May, for the likes of Citibank, GE, and Amazon. This year, it was down to 11 events, with fewer well-known names.

Read more: http://www.wnyc.org/story/trump-soho-plans-layoffs/

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Arrow 15 replies Author Time Post
Reply Trump SoHo Plans Layoffs (Original post)
DonViejo May 2017 OP
TeamPooka May 2017 #1
IronLionZion May 2017 #2
brush May 2017 #4
IronLionZion May 2017 #5
brush May 2017 #7
IronLionZion May 2017 #12
Lucky Luciano May 2017 #13
kimbutgar May 2017 #9
Scarsdale May 2017 #14
kimbutgar May 2017 #15
Saviolo May 2017 #3
Phoenix61 May 2017 #6
keithbvadu2 May 2017 #8
DK504 May 2017 #10
brush May 2017 #11

Response to DonViejo (Original post)

Wed May 24, 2017, 11:18 AM

1. Free market solutuions.

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:19 AM

2. Brilliant business genius

the greatest businessman ever is going to do this to our whole country

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Response to IronLionZion (Reply #2)

Wed May 24, 2017, 11:29 AM

4. It's going to happen to his brand all over the world, and Ivanka's

They'll be sorry he ever even though or running for president.

But we've seen it before. He always runs his businesses into the ground.

I mean if you go bankrupt running casinos where it's just about guaranteed money, you have no business in business.

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Response to brush (Reply #4)

Wed May 24, 2017, 11:33 AM

5. I suspect the casinos were scams for money laundering

and designed to lose money. It may be the same with his other businesses since he has a long history of screwing over his investors, workers, and contractors.

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Response to IronLionZion (Reply #5)

Wed May 24, 2017, 11:36 AM

7. Agreed for the most part. But casinos have been laundering money for forever.

Last edited Wed May 24, 2017, 12:48 PM - Edit history (1)

I mean why go through all the trouble of building, licensing and hiring a business that almost prints money to just let it go bankrupt after some money laundering?

Hell, the casinos in Vegas are still running and you just know there's been much money laundering through them.

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Response to brush (Reply #7)

Wed May 24, 2017, 12:51 PM

12. probably an issue of scale

which is why the mob originally got into casinos. The restaurants and small businesses were not enough to launder the massive amount of money they were dealing with from their drug business.

I don't know what the Trumps are into but I sure hope someone is investigating to find out.

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Response to brush (Reply #7)

Wed May 24, 2017, 01:29 PM

13. Too much borrowing. Vegas almost went bankrupt in 2008.

Customers evaporated and they had huge debts. Also new casinos sprouting up all over the place hurt the businesses given their high overhead of real estate, employees, and loan payments. Dump running a business would make it worse of course.

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Response to brush (Reply #4)

Wed May 24, 2017, 11:48 AM

9. I saw an ivanka blouse in Marshall's yesterday

I want to see her empire collapse but they are still selling her garbage clothes is appalling. I think her company is a front for Russia money laundering. The think the Russians really bankrolled his election and I hope the intelligence community and his supporters are finally connecting the dots.

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Response to kimbutgar (Reply #9)

Wed May 24, 2017, 02:00 PM

14. I want to see

ALL their business dealings fail. I want them to have to spend their $$$ on lawyers, trying to keep them out of prison. Kushner is a slum loard, too. Read all about him on Raw Story. These tRumps think think they are royalty, when they are truly just descendants of a well known PIMP. Grandpa was a brothel keeper.

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Response to Scarsdale (Reply #14)

Wed May 24, 2017, 02:18 PM

15. So much of what they are, are so slimy.

They are liars and cheaters several generations back. Great Grandpa was also a draft dodger in Germany like his grandson.

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:26 AM

3. I feel bad for the workers

But I sincerely hope that this is the end of the Trump brand. I hope that brand crashes and burns after this, and he's evicted from his Napoleonic gold rooftop mansion.

I mean, he's going to have secret service protection for the rest of his life, but maybe they're going to have to get used to living in a bungalow in the NJ burbs instead of high atop Manhattan.

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:34 AM

6. Well that's a nice little bit of good news

I feel bad for the workers.

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:45 AM

8. Where is 'Trump to the rescue'? - Save those jobs, Donald!

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:48 AM

10. I see another bankruptcy in his future.

He'll say he's not responsible for the fleeing of customers nor will he pay a thing because he's "president. Won't he have to present some financial records if the dump goes belly up?

Will all his Russian friends book some conventions at the SoHo, maybe some of his Birchers buds....

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Response to DonViejo (Original post)

Wed May 24, 2017, 11:56 AM

11. Wasn't trump just going on about "jobs, jobs, jobs"?

And he can't even keep people working at his branded hotels (not his really, just his name rented out on them).

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