Capitol Riot is already threatening Trump’s business


The storming of Capitol Hill last week by a pro-Trump mob will increase pressure on President Trump’s family business at a time when some of his most lucrative assets were already suffering from the pandemic and facing payments of impending debt.
One of the Trump organization’s most loyal partners, German lender Deutsche Bank AG, is distancing itself from the president’s businesses and is unlikely to lend him more money, a person familiar with said. the folder. The bank has loaned the Trump organization more than $ 300 million that will mature in 2023 and 2024, forcing the company to refinance the debt or pay it off by potentially selling assets.
The other risk for the Trump organization is that some customers will stop frequenting its activities, especially its hotels and golf courses. The company tried to sell its hotel in Washington, DC, but the pandemic has made buyers suspicious. The hotel was popular with supporters of Mr. Trump and organizations trying to solicit the president’s favor. Business was already expected to decline there once Mr. Trump leaves office.
Particularly important are the Trump Organization’s golf courses and resorts, accounting for almost half of the company’s annual revenue. The courses are closely associated with the President and have used his name to attract clients to a weak golf market. If the courts have trouble attracting and retaining members, it will weigh on the entire Trump organization.
On Sunday, the PGA of America announced it was ending an agreement to host the 2022 PGA Championship at Trump National Golf Club Bedminster in New Jersey, citing the risk for its brand of being affiliated with Mr. Trump . The Trump Organization has declared the PGA’s decision a “breach of a binding contract.”

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