Former President Donald Trump’s hotel business took a fresh blow this month when a top luxury travel agency reportedly ended its preferred partnership with ten different Trump hotels, Raw Story reports.
Luxury Launches, a premium lifestyle website based in Mumbai, India, also reports that the Trump hotels received “awful news” in early March when Virtuoso—which it describes as “the travel industry’s most prominent and undisputed player”—removed all Trump hotels and resorts from its network.
“This quiet elimination of all ten Trump-branded hotels and resorts from its list of preferred partners will … severely hamper Trump’s hotel management and licensing business, which is already down $24 million since 2019, as well as his golf resorts in Miami and Europe, which are down another $120 million,” Luxury Lifestyle notes.
A spokeswoman for Virtuoso confirmed that Trump hotels were no longer part of the agency’s network and said that “we consider many variables when reviewing both existing and new network participation,” although she would not comment on why the Trump hotels had been delisted.
The financial challenge is one of several that Trump must address, now that he’s no longer in the White House. Indeed, tax records obtained by The New York Times last year revealed that he must pay back at least $421 million in personally guaranteed debt”—and that much of that debt is coming due within the next four years.
Research contact: @RawStory