I assume Panama looks something like the above. I was going to use Trump Hotel photos from the website, but this was probably safer.
Premise
Trump Hotels, which the President has not divested from, has engaged in a lawsuit battle over management rights of a luxury hotel in Panama. With lawsuits and accusations flying in both directions between Trump Hotels & Marriott International, tensions are high. Also, the President’s low approval ratings in the US, let alone in Central and Latin America, leads to poorer-than-expected business performance. This touches upon a murky, previously uncharted territory of how American companies deal with the special case of competitors in which the President has direct or indirect financial interest.
Combatants
Ithaca Capital Partners / Owner’s Association
- Filed $15 million arbitration claim against Trump Hotels
- Accused Trump Hotels of “gross mismanagement, breaches of contract, conversion (misusing someone else’s property for one’s own gain) and breaches of fiduciary duties.”
Trump Hotels
- Fired after accusations of financial misconduct and other mismanagement
- $200 million countersuit filed and refused to turn over financial records
- Head of Trump Hotels Eric Danziger complained to Chief Executive of Marriott Arne Sorenson
- General counsel said call not intended to pressure Marriott
- Accusing Ithaca Capital of deception and illegally terminating contract
Marriott International
- Escorted off premises after being invited by majority owner
- In contention as new hotel management
- Did not respond to requests for comment
What does this mean?
The article notes that Marriott and other large international companies have significant interests with the government, and is affected heavily by government policy, such as tourism and immigration.
How can Marriott or any company ethically compete against a company with ties to the president? He and his staff are not above calling out or targeting groups of people or companies, whether positively or negatively. The “potential ethics concerns” of Trump not divesting himself from his businesses or putting them in a blind trust are enormous, also when he breaks his campaign promise to do just that.
Conclusion
Since the hotel’s completion in 2011, business struggled and owners were sinking with association and maintenance costs. Owners voted to fire Trump’s people and terminate the contract. The President’s statements and actions are poorly received by Central Americans, doing damage to his brand and thus property values. Currently the peak high season of Panama with expected high occupancy, the hotel is only about a quarter full – far below the norm.
This lawsuit will drag out, but it is such an interesting and juicy tidbit of news. Stay tuned for more updates, although a cursory search shows developments stretching back several more years.
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quit with the left wing liberal POLITICS and anti trump crap please this is a travel blog…not a left wing political rag???i think but not sure!!!
This is my blog. There are many like it, but this one is mine. I made edits to a neutral standpoint.
Good coverage. I’d like to see how the Emoluments Clause could come to the forefront of impeachment proceedings. Clearly something needs to be done and soon. He’s not making American great again….#s*ithole
I read about emoluments – am very interested that it is a thing, especially as we haven’t really had a president with such wide ranging business interests previously.
he has no business interests..he had to give them up on becoming president!!!PAT ATTENTION to the RULES!!!BLIND TRUST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
https://www.nytimes.com/2017/02/03/us/politics/donald-trump-business.html
https://www.nytimes.com/interactive/2017/01/12/us/politics/ethics-experts-trumps-conflicts-of-interest.html
https://www.forbes.com/sites/jenniferwang/2016/11/15/why-trump-wont-use-a-blind-trust-and-what-his-predecessors-did-with-their-assets/#171c5d3b29c0
I’m not here to argue, but 30 seconds of googling. Thanks for reading.
He is making america great again !!!!and Jeff Bezos a trillionaire with the upsurge in the stock market DAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Daniel this reads like more of a hit piece on the president. I’m a little disappointed you posted this…
I realized that after writing, I’m not sure how to make it more neutral but I’ll look to revise this evening. Thanks for your feedback!
Not sure how to be more neutral? Seriously? Here’s an easy start: don’t start off with a blatantly misleading/”fake news”, anti-Trump header. Trump has turned over all his personal business dealings to his sons. Most non-partisan observers would highly doubt Trump would have any personal involvement in any of this “war” and you have no evidence he does either, yet you boldly claim as fact that he’s personally involved at the start. And you end with his “sinking” and “toxic” approval numbers when actually his numbers at the end of his first year matched those of Obama’s at the same… Read more »
I can see some edits to be made but I haven’t spent any time on it yet. I did not include him as being involved and I thought it would be better to have Trump Hotels vs marriott as you can see in first paragraph. I will edit the title as such. Also note that Obama’s numbers, while bad by later on, have not approached the current approval levels. I’m not claiming objectiveness, I’m reading the article, and expounding on it a little bit, in which they do talk about ethics concerns. I also did not say he wasn’t in… Read more »
This has been edited
you are correct President Trump has not personal involvement in this nonsense!!!
Daniel,
It’s your blog and your post. Don’t listen to these far-right trolls. Trump’s an embarrassment — as is his brand. Don’t worry about making this more neutral. It’s pretty hard to put a positive spin on this. His approval ratings are awful and he’s a POS. End of story.
Interest Read!
-Max
Thanks Max for the support – appreciate it.
i agree