The Vancouver hotel that bears Donald Trump’s name has closed and its hotel management company has filed for bankruptcy after years of complaints from residents and politicians about Trump’s presence in the city.
The city’s Trump International Hotel website is now only linked to the Trump Hotels Global Site, where the Vancouver property is no longer listed. No one answered the phone on the hotel’s main line.
Documents filed with the Federal Office of the Superintendent of Bankruptcy indicate that TA Hotel Management Limited Partnership filed for bankruptcy on August 26, indicating it had total liabilities of $ 4.8 million and assets of only $ 1.1 million. of dollars. A creditors’ meeting has been set for September 16.
Owner Joo Kim Tiah, who announced the Trump deal in 2013, did not return a request for comment.
The disappearance of the hotel designed by prominent Vancouver architect Arthur Erickson was not deplored by some residents of the city.
“I think it’s cathartic for the city to see it disappear. It has always been inconsistent with our values, ”said Brent Toderian, former head of planning in Vancouver. Since the hotel opened in 2017, he has spoken about how the Trump brand is an affront to a city known for its diversity and inclusion.
Former Mayor Gregor Robertson was another who registered objections to the name early on and he declined to attend the opening.
Mr. Tiah is one of the directors of TA Hotel GP Ltd., which is listed as the sole partner of TA Hotel Management. The latter company would be the entity that would oversee the non-condo portion of the building under its hotel management agreement with the Trump Organization.
Experienced hoteliers in the city say the hotel closure is unlikely to impact the overall operations of Mr. Tiah, who is the son of one of Malaysia’s richest men and who has been in Vancouver for almost a decade.
Mr. Tiah’s primary development and real estate company, Holborn Group, also owns the downtown Hudson’s Bay parking lot, a major development site and the expansive land in central Vancouver that housed once the city’s oldest social housing complex.
One of the city’s big hotel operators and developers, Peter Wall, dismissed the idea that the Trump name hurt the hotel. Instead, he said the Trump Hotel was small by downtown luxury standards, with just 147 rooms, and he would have struggled as a result. The hotel occupies only 15 floors of the 63-story building.
Mr. Wall runs the Sheraton branded hotel he built on Burrard Street. He said Mr. Tiah’s business, Holborn, reportedly made most of its money selling the 217 condos on the other floors of the building – a common occurrence in recent Vancouver hotels. The building included an upscale Hong Kong restaurant chain, Mott 32, which also just posted a notice saying it is closed.
Mr Wall said he hoped another hotel chain would soon plant its flag in the building. The Four Seasons chain, which had to leave its Pacific Center building last year, is looking for a location.
Vancouver had suffered from a shortage of hotel rooms before the pandemic, and industry players had pressured the city to find ways to encourage more construction.
The head of the Downtown Vancouver Business Improvement Association said he believes the need will return.
“I would agree with the others to say [the Trump hotel situation] is more of an anomaly, ”said Charles Gauthier. “Vancouver will be seen as a safe travel choice in the future. There is going to be a need for hotel rooms. “
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