President Donald Trump’s businesses have taken a huge blow since he began his first term as commander in chief.
According to The Telegraph, new research by FairFX indicates average room rates have plummeted by about 63 percent at all except one of his 13 hotels.
Trump Las Vegas has been hit the worst with the average cost of a two-night stay in a standard double room decreasing from about $843 back in January to just $314 to reserve a room for January 2018.
The president’s Ayrshire golf hotel, Trump Turnberry, has seen a 57 percent fall in the average cost of a two-night stay; Trump Doral in Miami is down 53 percent; Trump Vancouver has seen a decrease of 48 percent; Trump New York is down 32 percent; and even Trump’s brand new Washington D.C. hotel is down a whopping 52 percent.
Only Trump Doonbeg in Ireland has actually seen a rise in rates from $441.90 to $472.33. However, the slight increase pales in comparison to all of the steep drops at other Trump-branded hotels.
Even rates for his premium rooms at various hotels have drastically fallen. As of last January, a two-night stay in the executive suite at Trump Panama was priced around $4,100, but travelers can now secure the room for just $1,076.97.
“One year after Trump’s inauguration, prices for a weekend in one of his hotels have for the most part decreased,” said Ian Strafford-Taylor, FairFX CEO. “While big events, like the inauguration in Washington, will usually cause prices to rise in that city for a particular weekend, the decreases in other places suggest that it doesn’t necessarily pay to be president.”
Needless to say, Trump’s controversial policies and divisive rhetoric are undoubtedly factors in this slump that his establishments are experiencing. People simply don’t want to be associated with anything Trump has going on. This is especially true in Democratic states where he has properties, such as New York, New Jersey, and Illinois.
“Several factors may be at play,” noted Nick Trend, Telegraph Travel’s consumer editor. “The strong dollar has reduced tourism to the U.S. generally, for example. But there have been falls in his hotels in Scotland and Vancouver too, and these price cuts are so significant, that it seems likely that many potential guests have been put off by the association with the controversial policies, tweets, and opinions of the current U.S. president.”
This analysis doesn’t come as a major shock considering Trump’s approval ratings have been on a downward spiral for months and more than a dozen major philanthropic organizations pulled their events from being held at Trump’s Mar-A-Lago estate in Florida earlier this year.
Additionally, professional athletes and teams have publicly declared that they were ending their contracts with Trump Hotels and players would not be boarding there while traveling for away games.
The beauty in this revelation is that Trump's failure to cut ties with his businesses upon becoming president has clearly backfired. Additionally, the declining rates indicate he has tarnished his reputation so badly that even after he leaves the Oval Office, his life as a real estate mogul and so-called successful business man will likely be a distant memory.
As we can see, the resistance is in full swing, and it's working.
Banner / Thumbnail : Reuters, Kevin Lamarque