The Washington Post claims that Trump has returned to his company after leaving office but “it faces a deepening crisis, with key properties bleeding revenue and its bankers, lawyers and customers fleeing the company.” Based on financial disclosure forms Trump filed as he left office, his “hotels, resorts and other properties had lost more than $120 million in revenue last year, as the pandemic forced long-term closures and kept customers home.” The majority of Trump’s losses happened to be located in places where Trump could least afford:
- Washington hotel, which has a $170 million loan outstanding, saw revenue drop more than 60 percent.
- Doral resort in Miami — also carrying a huge debt load — saw a 44 percent drop.
- Their combined revenue fell from $149 million in 2019 to $71 million last year, a drop of more than half.
- No wonder he wanted us all to drink bleach and shove lightning rods up our culos.
- Trump’s Mar a Lago resort did post a profit of 13 percent.
As of Thursday, one of his banks and legal firms have cut ties with the him because of his involvement in the January 6 riots at the Capitol Building.
Trump still owns his company. But it is unclear when — or even if — he will return to his old role as the company’s day-to-day leader. On Thursday, while Trump was seen playing golf at one of his courses in Florida, the Trump Organization’s website still listed Donald Trump Jr. and Eric Trump as the company’s leaders.
Ironically, Trump really needs Presiden Biden because: “Biden’s success in speeding up vaccinations for the coronavirus will play a major role in determining how fast the hotel and travel industries recover. In addition, because Trump’s D.C. hotel is located in a federally owned building, the Biden administration is his landlord. If Trump seeks to renegotiate his lease, or to get federal approval for a sale of the building, he will be dealing with Biden’s General Services Administration.”
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