Eric Trump Blames Zika Virus For The Trump Brand’s Declining Fortunes
According to The Washington Post, President Donald Trump’s Doral resort has experienced a sharp decline in business since 2015, and top officials like Eric Trump are rejecting the idea that it has anything to do with failing business practices and negative connotations with the Trump brand name.
The resort’s net income has fallen by 69 percent in just two years, and in 2017, the Doral missed its business target by roughly 12 percent.
Tax consultant Jessica Vachiratevanurak said that “they are severely underperforming” when compared to other resorts nearby in an attempt to have the property’s tax bill lowered. The reason she cited was that “there is some negative connotation that is associated with the brand.”
Eric Trump, however, thought otherwise. “This story is completely senseless,” said Trump’s son, who oversees the business’s day-to-day operations. “Our iconic properties are the best in the world and our portfolio is unrivaled by anyone.”
Rather, the Trump Organization told The Washington Post in a statement that contradicted the reasons presented by its own tax consultant and blamed factors other than those related to the Trump brand name. They said that fears of the Zika virus three years ago and hurricanes in recent years were responsible for a decline in business, largely as a result of fewer tourists in South Florida.
But Miami-Dade County data provided by the company’s consultants revealed that resorts in the same part of Florida as the Doral are doing remarkably well, much better than the Trump resort in key areas including average room rate and room occupancy.