Why did Trump International Hotel Vancouver file for bankruptcy?

The operator of the hotel said that due to the COVID-19 epidemic, the hotel was temporarily closed since March, which affected the business of the hotel.

It is understood that when the COVID-19 outbreak broke out in April, the hotel had laid off more than 200 employees. At present, no one answered the phone of the hotel, and the staff at the service desk also said that the hotel was empty, and the staff only learned the news of the hotel's permanent closure from media reports.

Trump International Hotel Vancouver is operated by TA Hotel Management Company. Recently, TA Hotel Management Co., Ltd. issued a statement in official website, saying that since the outbreak of the epidemic, the continuous lack of expenditure and income has led to the bankruptcy of our hotel. It is understood that the current total assets of TA Hotel Management Co., Ltd. are only 165438+ 10,000 US dollars (about 755 1 10,000 RMB), while the total liabilities are as high as 4.8 million US dollars!

This 69-story international luxury hotel is located in downtown Vancouver and belongs to the real estate developer Holborn Group. It is understood that Holborn Group only authorized hotels to use President Trump's name according to an agreement of 20 13.

The hotel costs $360 million and has 65,438+047 rooms. It opened after the inauguration ceremony of US President Trump. Moreover, Trump's three children? Donald Jr., Eric and Tiffany also attended the ribbon-cutting ceremony of the hotel.

Some media believe that even TA Hotel Management Company has filed for bankruptcy. After all, this hotel named after Trump took office almost at the same time as President Trump, and it closed down less than four years after its opening. At present, it is in the general election period, which makes people guess that people have no expectations for President Trump's future.

In fact, Trump himself has nothing to do with this hotel. Importantly, the real estate developer of the building needs to pay Trump to get permission to use Trump's name.

This hotel, like chain stores, is run by the reputation of the president of the United States. After the operator filed for bankruptcy, the website of this hotel was removed the next day, the name of the hotel disappeared from the corporate website of Trump Hotel, and the account of this Vancouver hotel was also deleted from Twitter and Facebook.