Trump to sell Canada hotel, plans 30 openings by 2020

Maxfine International, a unit of TA Global, proposed to buy the Trump International Hotel and Tower in Canada for $93.24.

According to The Star Online, Maxfine said external borrowings and internally generated funds would be used in the acquisition. The decision to purchase the hotel comes from a push from TA Global to build on its hospitality business, which is looking to gain more footholds in major cities internationally.

The acquisition is expected to be completed in June 2016.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


The Economic Times reported that the Trump Hotel Collection is planning on opening 30 hotels globally by 2020, with many of them in India. The Collection is targeting cities such as Mumbai, Delhi, Bangalore and Goa, with a focus on management contracts as a means to expand into the country.

India is already experiencing an influx of hotel openings, with an expected 144,000 new branded hotel room openings throughout 2017 and 2018, with nearly 40 percent of them constituting luxury and upscale brands. The Trump brand's involvement would be contributing to this increase in supply.

"Hospitality is a cyclical industry and by entering India at a relatively difficult time also means we get ourselves in pole position for the next 'up cycle,'" Shafi Syed, VP of development and acquisitions, Trump Hotel Collection, told the Economic Times. "Coming into India with the right development partner, location and the right deal structure is crucial, this takes time."

Earlier this month, Trump filed a lawsuit against the Trump Plaza Hotel & Casino and the Trump Taj Mahal to have his name removed from them before they shut down operations. According to NJ.com, Trump claims that, while he licensed his name to the casinos in 2010, the properties breached their agreement with him by failing as a business.

Suggested Articles

The company's main markets are still substantially affected by the measures rolled out to combat the COVID-19 health crisis.

Revenue per available room and occupancy increased over Q2, but uncertainty around the industry’s recovery remains.

The integration aims to provide hoteliers with seamless and complete visibility over group, catering and event sales performance activity.