Trump’s name is currently on Trump International Hotel & Tower in Toronto. The president has never owned any part of the 65-story tower, according to The Hollywood Reporter – his name is on the building as part of a licensing deal. However, the new owner of the building has announced a deal with the Trump Organization that will have the brand removed as soon as Aug. 1.
The Trump International Hotel & Tower has long been a junket and party destination for studios and distributors in town for the Toronto International Film Festival, according to The Hollywood Reporter. However, the tower saw a precipitous drop in festival business after Trump launched his presidential campaign. There have even been calls for a boycott of the business, according to The Hollywood Reporter.
Jay Wolf, president of JCF Capital, which owns the building, praised the Trump Organization despite the decision to remove the brand.
“Collectively, Donald Trump Jr., Eric Trump, (Trump Hotels CEO) Eric Danziger and their team have been exceptional partners, and we hope to have the pleasure of working with the Trump Organization again in the future,” Wolf said in a statement.
Can a famous name actually harm a building's value?
Morning Briefing: Affordability heading the right way
President Donald Trump’s name won’t be a fixture on the Toronto skyline this fall.