Although county documents show that other Chicago hotels are largely remaining steady, profits for Trump International Hotel & Tower Chicago, between 2015 and 2018, have fallen 89%, from $16.7 million to $1.8 million.
While company lawyers contend that the business’ taxes should be lowered, the hotel is currently cutting costs by leaving jobs open, cutting back on amenities, and purchasing cheaper supplies.
Since President Trump entered office, a number of his properties have felt the negative effects of his lagging public opinion. Not only did the Trump Organization say in October that it considered selling the lease on its flagship D.C. hotel, but two New York Trump ice rinks have had to redecorate to remove or downsize the presence of Trump’s name.
Multiple allegations have arisen concerning Trump’s violation of the emoluments clause through his properties, in which he stood to financially benefit from hosting events as well as foreign dignitaries.