The Trump Organization has furloughed or laid off nearly 1,500 employees at the company’s hotels amid the coronavirus outbreak.
Of President Trump’s 24 hotels and clubs, 17 of them, including his Florida Mar-a-Lago resort, have had to close because of stay-at-home orders in states. The organization has been forced to make employee cuts in Chicago, Las Vegas, Vancouver, Honolulu, Miami, New York, and the District of Columbia, public filings show.
Trump’s closed properties represent $650,000 a day in revenue, forcing drastic measures, including the company not paying rent on the Trump International Golf Club West Palm Beach.
“Because payment has not become due, and in light of Governor’s DeSantis’ executive order shutting down businesses throughout the State of Florida as a result of the COVID 19 pandemic, the County advised us to refrain from making payment until they have finalized their policy for the handling of their numerous leases,” said Alan Garten, an executive at Trump Organization said. “As soon as the County finalizes its guidance, we will, of course, fully and timely comply with its directives as well as continue to comply with the requirements of the lease.”
One of Trump’s business partners, Joo Kim Tiah, said that the crisis is causing economic pain for everyone in the hotel business. “With what is happening in the world right now, no hotel company or hotel is immune or spared,” he said.
Over 10 million people applied for unemployment benefits in March as nonessential business across the country have been forced to shut down.
