Trump, Kushners End New Jersey Hotel Partnerships
The Trump Organization is ending its management of the Westminster Hotel in Livingston, New Jersey, which is one of the mid-Atlantic hospitality properties owned by Kushner Cos., the New York Times reports.
The president's company is also dropping plans to manage a hotel that Kushner Cos. is building at the Jersey Shore in a development known as Pier Village. In that case, the plans for the Trump Organization to manage the property were still preliminary, not beyond a letter of intent.
The Trump Organization has been managing the 75-room Westminster Hotel, which is about 25 miles from Manhattan, for about a year. The company made about $20K for part of that period, Bloomberg reports.
The Westminster is unlike any of the other hospitality properties that the president's company has been associated with, in that it is not upscale and does not carry the Trump name. At their lowest price, rooms can be had at the Westminster for $109.
On the other hand, the Trump Organization has been trying to establish two more affordable hotel brands in recent years, Scion and American Idea. The two brands are currently planning to open a handful of hotels in Mississippi.
In the longer run, the Trump Organization is planning dozens of locations "designed to work in every city U.S.A.," company spokeswoman Christine Da Silva told NPR.
Neither company offered any comment about the Trump Organization discontinuing its management of the Westminster or the New Jersey hotel.
President Donald Trump's sons, Donald Trump Jr. and Eric Trump, currently run the Trump Organization, though the president hasn't divested himself of his interest in the company.