Trump Organization Bought Out of Its Contract for Trump SoHo
- Transition is scheduled for completion by the end of the year
- Owner of Trump hotel in Toronto canceled its contract in June
Trump SoHo Hotel
Photographer: Drew Angerer/Getty Images North AmericaThis article is for subscribers only.
Donald Trump’s family company said its management and licensing agreement for the Trump SoHo Hotel was bought out by the New York property’s owner, marking the second time this year the Trump name will be removed from a hotel-condominium tower.
CIM Group, a Los Angeles-based investment firm, will end the use of Trump’s name at the tower in the hip lower Manhattan enclave by the end of the year, the Trump Organization said in a statement Wednesday. The hotel has struggled to attract guests, while condo sales have fallen short of expectations.