Trump Organization to walk away from struggling SoHo hotel

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Trump Soho hotel.
(Image credit: Drew Angerer/Getty Images)

The Trump Organization is walking away from its struggling hotel in Manhattan's SoHo neighborhood, The New York Times reports. It is the second hotel the organization has removed its name from this year, after a similar situation developed in Toronto.

The SoHo building, which also has condominiums, closed its main restaurant earlier this year due to a decline in business "since the election," in the words of one of its lawyers. The owner of the building, the CIM Group, reportedly reached a deal to buy out the Trump Organization from the property; the Trump company manages daily operations at the building. "The Board and CIM have been first class in every regard," said the CEO of Trump Hotels, Eric Danziger, in a statement. "We have truly enjoyed our relationship and look forward to exploring new opportunities in the future."

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Jeva Lange
Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.