Bankrupt Trump Hotel Vancouver closing
The Trump Hotel Vancouverhas just closed permanently, meaning that there are no longer any Trump properties in Canada.
The Vancouver Sun is reporting that the Trump Hotel Vancouver is ceasing operations permanently. The pandemic is given as the reason for the hotel shutting down, though presumably there’s a bit more to it.
The 147-room Trump Hotel Vancouver was opened in February 2017 and is owned by TA Global Berhad, a Malaysian property company. As is the case with many things bearing the Trump name, this was simply a licensing deal with Trump, and the Trump family didn’t have a major stake in the hotel. TA Global Berhad has two Canadian subsidiaries that leased and ran the Trump Hotel Vancouver, and they’re insolvent due to the pandemic. One of the company’s bankruptcy filings shows assets of $1.104 million and debts of $4.795 million. Unfortunately the Trump Hotel Vancouver closing means hundreds of people are left without work, which is awful.
