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$6 Million: The Cost of Removing the Trump Brand from Toronto Hotel

JCF Capital ULC wanted so badly to reboot the branding at the Trump International Hotel & Tower in Toronto, it paid $6 million to start over.
June 28, 2017, 9am PDT | James Brasuell | @CasualBrasuell
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The Trump International Hotel & Tower in Toronto will be born again under a new name.
DayOwl

"Donald Trump’s business will be paid millions of dollars to release the owner of a Toronto hotel complex from using his name," reports Katia Dmitrieva.

"JCF Capital ULC, the closely held U.S. firm that owns the Trump International Hotel & Tower in the city’s downtown business district, reached a buyout deal to exit the contracts with the Trump Organization’s hotel unit," adds Dmitrieva, reporting information made available in a statement by the companies.

The statement didn't disclose the financial figure JCF Capital ULC was willing to pay to part with the Trump name, but Dmitrieva has a source close to the deal that revealed the price was $6 million.

According to Dmitrieva, the hotel has a history of construction delays, lawsuits, and a default under the previous owner—all before the anti-Trump protests began in earnest.

Full Story:
Published on Tuesday, June 27, 2017 in Bloomberg Politics
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