The Trump Tower In Toronto Is Dropping The Trump Name

The Trump Tower In Toronto Is Dropping The Trump Name

Trump's business interest will receive at least $6 million for walking away from its long-term contracts, and the Trump signage could be removed as early as August 1, Bloomberg reported, citing a person it did not identify.

The deal, several outlets including Bloomberg and the New York Times reported Tuesday, will strip Trump's name from what is still, at least for now, the Trump International Hotel and Tower in Toronto.

In a news release, representatives for both Trump Towers and JCF Capital ULC praised the deal.

Anti-Trump protestors have flocked to the site to stand against the U.S. President's degradation of women, Mexicans and Muslims.

The tower was a tough sell under its Trump name: Talon struggled to sell the building after defaulting on its 2007 loan, and when JCF Capital acquired the loan on the property from lender Raiffeisen Bank International AG and launched a sale process for the building, it garnered no bids aside from its own.

Scotland pays tribute to service personnel with Armed Forces Day parades
Six Year old Luca Gordon from Edinburgh with ex-service personnel from Legion Scotland after they marched down the Royal Mile during the ninth annual Armed Forces Day in Edinburgh.

Last year, Trump Hotels announced a new brand of hotels, called Scion, which are smaller in scale than traditional Trump properties and will target millennial travellers. But he ran into trouble when he was unable to sell all his inventory.

According to sources familiar with the situation, most likely, the skyscraper will be used under the brand name St.Regis Marriott International Inc.

The US firm is a joint venture between Juniper Capital Partners LLC and Cowie Capital Partners Inc.

Photo The Trump International Hotel and Tower opened in downtown Toronto in 2012. The chain also manages eight hotels in the United States, as well as properties in Scotland and Panama.

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