Based on documents the Trump Organization provided to unit owners of the Trump Hotels in New York and Chicago, room rental revenues are down since 2015 — particularly when it comes to American business.
But according to The Washington Post, those quarterly statements also show that both hotels have received a boost from foreign business, particularly guests from Saudi Arabia and China.
> As a private company, the Trump Organization says little about its financial ups and downs. But The Washington Post obtained details from two of President Trump’s landmark properties — his luxury hotels in Chicago and Manhattan — from small-time investors such as [Dave] Roberts, who get details that the public does not.
> Those investors — and internal documents they provided — showed that revenue at both properties dropped noticeably as Trump’s political career took off. The decreases have stirred tensions in the buildings and left many investors worried that the Trump brand may be curdling in the liberal cities where Trump built much of his empire.
> For the small-time investors — who bought individual hotel rooms, under an unusual arrangement that allowed Trump to offload financial risks onto others — the downturn has brought a bitter sense that they’re suffering for the political rise of a figure who is now loathed in their communities.
Of the 11 Trump-branded hotels worldwide, Trump’s hotel in Washington, D.C., is doing particularly well — especially with business from conservative groups, foreign embassy parties and GOP fundraisers.
Likewise, Trump’s hotel in Las Vegas is thriving as well, with investors telling The Post that low rates have ushered in plenty of business from Chinese tourists.
In New York, investors received some good news this past spring:
> Revenue had increased in the first quarter of 2018. The reason, [Prince A. Sanders, the hotel’s general manager] wrote in his quarterly letter: “a last-minute visit to New York by the Crown Prince of Saudi Arabia,” in which a number of travelers accompanying the prince paid to stay at the Trump hotel.
> The Trump Organization did not respond to questions asking whether the Saudi government — a key U.S. ally — had paid for that block of rooms.
At the Chicago hotel, the number of U.S.-based visitors has fallen sharply since 2016, but as with New York, the Saudis stepped in to save the day:
> At last count, the hotel said, Saudi-based customers had booked 218 nights at Trump Chicago this year — a 169 percent increase from the same period in 2016. It also told investors about a rise in customers from China: “China’s room night production has increased significantly compared to 2016.” The Trump Organization did not respond to questions from The Post about these latest statistics on the Chicago hotel.