Another Trump financial flop?

Rico Suave · Sep 12, 2016

His ineptitude at the one thing he claims to be great at is a election disqualifier.

After the project was awarded to Trump, a Washington Post columnist calculated that Trump's new hotel might have to charge average rates of as much as $750 per night. At the time, Ivanka Trump responded angrily that "his numbers are pure speculation and, simply put, wrong."

Yet it was Ivanka who was wrong. On weeknights this fall, the hotel's least expensive rooms will go for between $735 and $995 a night. On many days, the hotel is as expensive or more so than the Four Seasons. (Ivanka Trump had said that Trump Organization originally aimed to have lower rates than this high-end hotel.) And it's not at all clear whether Trump's hotel can command such steep rates in a market already crowded with luxury hotels—especially because Trump's hotel will lack some of the amenities initially promised.

An analyst said the same thing about his Atlantic city casino. He went off on him ruthlessly and got him fired. The analyst was of course correct. Trump is a mentally ill ass hat.

Here's Why Donald Trump's New DC Hotel May Be a Financial Flop | Mother Jones

PeteEU · Sep 12, 2016

No worries, still 2 months left of the election left.

So what is going to happen, on Monday Trump is going to flood the hotel with "his people" from his campaign.. real or not, and charge the campaign more than 1000 dollars a night for the next 2 months. Where will the money come from.. the campaign contributions of course. He has been doing this all over the country since he became the nominee and started to get campaign contributions (or other peoples money)..

Yes he is basically stealing campaign contributions.. but the media seem to mostly ignore this.. for now at least.

Glen Contrarian · Sep 12, 2016

Rico Suave said:
His ineptitude at the one thing he claims to be great at is a election disqualifier.

After the project was awarded to Trump, a Washington Post columnist calculated that Trump's new hotel might have to charge average rates of as much as $750 per night. At the time, Ivanka Trump responded angrily that "his numbers are pure speculation and, simply put, wrong."

Yet it was Ivanka who was wrong. On weeknights this fall, the hotel's least expensive rooms will go for between $735 and $995 a night. On many days, the hotel is as expensive or more so than the Four Seasons. (Ivanka Trump had said that Trump Organization originally aimed to have lower rates than this high-end hotel.) And it's not at all clear whether Trump's hotel can command such steep rates in a market already crowded with luxury hotels—especially because Trump's hotel will lack some of the amenities initially promised.

An analyst said the same thing about his Atlantic city casino. He went off on him ruthlessly and got him fired. The analyst was of course correct. Trump is a mentally ill ass hat.

Here's Why Donald Trump's New DC Hotel May Be a Financial Flop | Mother Jones

I remember when my wife and I went to DC last year, we saw the hotel in question a few blocks away from the White House - the location's okay, but nothing to write home about.

MaggieD · Sep 12, 2016

PeteEU said:
No worries, still 2 months left of the election left.

So what is going to happen, on Monday Trump is going to flood the hotel with "his people" from his campaign.. real or not, and charge the campaign more than 1000 dollars a night for the next 2 months. Where will the money come from.. the campaign contributions of course. He has been doing this all over the country since he became the nominee and started to get campaign contributions (or other peoples money)..

Yes he is basically stealing campaign contributions.. but the media seem to mostly ignore this.. for now at least.

What evidence do you have that the Trump campaign is paying over-market priced on anything? I realize you have the inside track, but still...

Rico Suave · Sep 12, 2016

MaggieD said:
What evidence do you have that the Trump campaign is paying over-market priced on anything? I realize you have the inside track, but still...

reading is fundamental. Come on Maggie read up on what he is charging his campaign for office space.

Too be fair this is not as bad as the Aleppo incident

MaggieD · Sep 12, 2016

Rico Suave said:
His ineptitude at the one thing he claims to be great at is a election disqualifier.

After the project was awarded to Trump, a Washington Post columnist calculated that Trump's new hotel might have to charge average rates of as much as $750 per night. At the time, Ivanka Trump responded angrily that "his numbers are pure speculation and, simply put, wrong."

Yet it was Ivanka who was wrong. On weeknights this fall, the hotel's least expensive rooms will go for between $735 and $995 a night. On many days, the hotel is as expensive or more so than the Four Seasons. (Ivanka Trump had said that Trump Organization originally aimed to have lower rates than this high-end hotel.) And it's not at all clear whether Trump's hotel can command such steep rates in a market already crowded with luxury hotels—especially because Trump's hotel will lack some of the amenities initially promised.

An analyst said the same thing about his Atlantic city casino. He went off on him ruthlessly and got him fired. The analyst was of course correct. Trump is a mentally ill ass hat.

Here's Why Donald Trump's New DC Hotel May Be a Financial Flop | Mother Jones

Why do you and others CONSTANTLY berate DT? Why don't you sing the praises of his competition? Oh, wait...

Do you really think the caliber of people who can afford $700 a night are shopping PRICE?? Clue: They're NOT.

As for suing the two restaurateurs, if they were under contract, he'll win or they'll settle. People are free to follow their consciences as they please. Sometimes that costs them money. I'm making the assumption they ARE under contract. I'd sue them, too.

PeteEU · Sep 12, 2016

MaggieD said:
What evidence do you have that the Trump campaign is paying over-market priced on anything? I realize you have the inside track, but still...

http://www.nytimes.com/2016/06/22/us/politics/donald-trump-self-funding-payments.html?_r=0

According to documents submitted to the Federal Election Commission, Mr. Trump, whose campaign has just $1.3 million cash on hand, paid at least $1.1 million to his businesses and family members in May for expenses associated with events and travel costs. The total represents nearly a fifth of the $6 million that his campaign spent in the month.

That was in May, before he started getting RNC and campaign contributions...

Now we are in September and it has gotten only worse...

Trump Under Fire For Astronomical Campaign Office Rent Hike--In His Own Building

or

Donald Trump?s campaign HQ in Trump Tower gets a massive rent hike - Curbed NY

A review of the Federal Election Commission filings conducted by the Huffington Post found that the Republican presidential nominee has raised the rent that his campaign pays for its Trump Tower headquarters from $35,458 a month back in March--when he was self-funding his presidential bid--to $169,758 a month in July, when he was raising funds from donors. FEC filings show that the rent began increasing at the Trump Tower office around the end of May.

So from official records.. the FEC. And no, it is not because more space was needed.. fewer people are working for him at that HQ.. according to Trumps filings at the FEC. It is by the way the old Apprentice production area... so not something that would be rented out to anyone else...

There is much more about this.. and he has been doing it for ages, funneling everything from charity money to now campaign contributions to his own pocket. Funny how he charges the police in Florida 300+k to host a charity benefit, where he contributed 200k+ in funds he claimed came from him, but in fact came from others.. The man is a crock, pure and simple.

MaggieD · Sep 12, 2016

Rico Suave said:
reading is fundamental. Come on Maggie read up on what he is charging his campaign for office space.

Too be fair this is not as bad as the Aleppo incident

I'm not looking it up. That's your job. You allege. You cite your source.

HOWEVER! I don't have to look it up. I'll take at face value that he's charging more. I would too. If he has empty space and a temporary lessee steps up to rent it? A Lessor would be STUPID not to charge a premium.

Edit -- sorry, Rico. It was Pete's job.

Rico Suave · Sep 12, 2016

MaggieD said:
Why do you and others CONSTANTLY berate DT? Why don't you sing the praises of his competition? Oh, wait...

Do you really think the caliber of people who can afford $700 a night are shopping PRICE?? Clue: They're NOT.

As for suing the two restaurateurs, if they were under contract, he'll win or they'll settle. People are free to follow their consciences as they please. Sometimes that costs them money. I'm making the assumption they ARE under contract. I'd sue them, too.

You are not much of a lawyer, they'll be able to prove that his statement and continued association with him will/has tarnish their brand and disassociation is for cause.. More importantly no signature chef will sign on now. I don't often stay at a 700+ hotel room but when I do I expect amenities.

MaggieD · Sep 12, 2016

PeteEU said:
http://www.nytimes.com/2016/06/22/us/politics/donald-trump-self-funding-payments.html?_r=0

That was in May, before he started getting RNC and campaign contributions...

Now we are in September and it has gotten only worse...

Trump Under Fire For Astronomical Campaign Office Rent Hike--In His Own Building

or

Donald Trump?s campaign HQ in Trump Tower gets a massive rent hike - Curbed NY

So from official records.. the FEC. And no, it is not because more space was needed.. fewer people are working for him at that HQ.. according to Trumps filings at the FEC. It is by the way the old Apprentice production area... so not something that would be rented out to anyone else...

There is much more about this.. and he has been doing it for ages, funneling everything from charity money to now campaign contributions to his own pocket. Funny how he charges the police in Florida 300+k to host a charity benefit, where he contributed 200k+ in funds he claimed came from him, but in fact came from others.. The man is a crock, pure and simple.

This does not prove what you said -- that he is charging well above what he'd charge others.

Rico Suave · Sep 12, 2016

MaggieD said:
I'm not looking it up. That's your job. You allege. You cite your source.

HOWEVER! I don't have to look it up. I'll take at face value that he's charging more. I would too. If he has empty space and a temporary lessee steps up to rent it? A Lessor would be STUPID not to charge a premium.

Edit -- sorry, Rico. It was Pete's job.

Looks like Pete just schooled you. Please click on his links.

Rico Suave · Sep 12, 2016

more schooling

Trump Hosted Fundraiser for Florida AG Who Stopped Investigating Trump U | The Weekly Standard

MaggieD · Sep 12, 2016

Rico Suave said:
You are not much of a lawyer, they'll be able to prove that his statement and continued association with him will/has tarnish their brand and disassociation is for cause.. More importantly no signature chef will sign on now. I don't often stay at a 700+ hotel room but when I do I expect amenities.

Will tarnish their brand?? That's a legal reason to void a contract?? Good luck with that.

MaggieD · Sep 12, 2016

Rico Suave said:
Looks like Pete just schooled you. Please click on his links.

Pete didn't school me.

PeteEU · Sep 12, 2016

MaggieD said:
This does not prove what you said -- that he is charging well above what he'd charge others.

Well tell me this.. how can the same space go from 35k in March to 169k in July.... the same space, but less workers. By all reports I have seen the space is small, especially compared to the 20000 foot space the Clinton campaign has... paying only 212k a month and having almost 3 times the amount of workers in the space. It is the former Apprentice offices, that are UNDER CONSTRUCTION!.. There is not even paint on the walls.

You keep defending this crook why? It is clear that there is something shady going on... because it is not the first time. You do know he prefers to sleep in his NY penthouse right? So he lets the campaign... aka the donors pay for his very expensive personal plane to fly to NYC as often as possible so he can sleep at home.. His plane is an older model that burns considerable more amount of fuel than a modern jet he can rent.. wait forgot, the campaign rents the Trump plane from.. Trump.

Or the fact he is holding fundraisers at his own resorts, and charging the campaign wayyy over market price (based on price comparisons at similar resorts or hotels in the area). He has been doing this for ages. So why should he change now eh?

Like it or not, it is strange as hell the price increase just as he switched from self funding to contribution and RNC funding.

gdgyva · Sep 12, 2016

Rico Suave said:
You are not much of a lawyer, they'll be able to prove that his statement and continued association with him will/has tarnish their brand and disassociation is for cause.. More importantly no signature chef will sign on now. I don't often stay at a 700+ hotel room but when I do I expect amenities.

you are kidding right?

my wife is a chef in DC

Being an executive chef in a place like that....they will beat down the doors

Even the sous chef's, and the line chef's will want that on their resume

Going to culinary school is easy....getting a GOOD gig after school is hard

And that place will cater to the type of people that can make careers

His management team wont have any issues getting chefs for that location

None whatsoever....

Rico Suave · Sep 12, 2016

gdgyva said:
you are kidding right?

my wife is a chef in DC

Being an executive chef in a place like that....they will beat down the doors

Even the sous chef's, and the line chef's will want that on their resume

Going to culinary school is easy....getting a GOOD gig after school is hard

And that place will cater to the type of people that can make careers

His management team wont have any issues getting chefs for that location

None whatsoever....

read the article.

No signature chef will have anything to do with him. They have been UNABLE to find anyone to fill the space(s). They may be able to get some hack "executive" chef but will likely have to settle for a Ruth Chris.

edit - my mistake they did fill in one spot with some hack national steak house chain.

MaggieD · Sep 12, 2016

PeteEU said:
Well tell me this.. how can the same space go from 35k in March to 169k in July.... the same space, but less workers. By all reports I have seen the space is small, especially compared to the 20000 foot space the Clinton campaign has... paying only 212k a month and having almost 3 times the amount of workers in the space. It is the former Apprentice offices, that are UNDER CONSTRUCTION!.. There is not even paint on the walls.

You keep defending this crook why? It is clear that there is something shady going on... because it is not the first time. You do know he prefers to sleep in his NY penthouse right? So he lets the campaign... aka the donors pay for his very expensive personal plane to fly to NYC as often as possible so he can sleep at home.. His plane is an older model that burns considerable more amount of fuel than a modern jet he can rent.. wait forgot, the campaign rents the Trump plane from.. Trump.

Or the fact he is holding fundraisers at his own resorts, and charging the campaign wayyy over market price (based on price comparisons at similar resorts or hotels in the area). He has been doing this for ages. So why should he change now eh?

Like it or not, it is strange as hell the price increase just as he switched from self funding to contribution and RNC funding.

Hey, the real miracle is that he funded a large portion of his own campaign. You say he's overcharging. The liberal press says he's overcharging. Yet the campaign finance watchdogs say he is doing nothing wrong. I most assuredly give YOUR opinion no credence. As to the liberal press? No again. I defend him because I support him. There is nothing he could do to please the likes of you including running a razor-sharp sword through his midsection.

Sing the praises of YOUR candidate why dontcha? Oh. Wait...