Trump SoHo is in trouble. Five months into President Donald Trump's polarizing presidency, the lower Manhattan hotel is experiencing a decline in corporate events, and hotel layoffs are coming. At least in New York City, the Trump marquee is turning people away.
At its peak, one could spend $700 a night to stay at the five-star hotel, but now rooms have dropped to nearly half that—well below surrounding five-star hotels in the area, and even bordering the four-star hotel price range. Koi, the restaurant that was located on the ground floor of Trump SoHo has closed, citing a decline in business, and the election of Trump as the turning point.
“Before Trump won we were doing great. There were a lot of people we had, our regulars, who’d go to the hotel but are not affiliated with Trump,” former Koi busser and host Jonathan Grullon told GrubStreet. “And they were saying if he wins, we are not coming here anymore.” The lobby space where the restaurant had previously occupied is now locked and empty.
Business throughout the hotel is also suffering. Out of a staff of 80, 12 room attendants are to be laid off, turn-down service will be slashed, and a mere 11 corporate events were booked in the hotel since January, according to WNYC.
“I have to believe that a lot of organizations would not want to have meetings at a Trump Hotel just to not have to deal with it,” Jan de Roos, professor at the Cornell Hotel School, told WNYC. And this includes potential hotel guests. Players of the Cleveland Cavaliers made news back in December, when Lebron James and others refused to stay in the Trump hotel that was booked for them on a trip to New York.
This isn't the first time Trump's hotels have been in jeopardy, nonetheless, The Trump International Hotel in Washington is thriving, and CNBC reported that Mar-A-Lago membership fees have doubled. For the locations where Trump is known to frequent, access is priceless.