The Toronto Trump Tower in Canada is going to have the “Trump” name removed. It is important to note that the Trump Organization never owned the real estate itself, however, they did operate it. They are selling the rights to JCF Capital who say that they have a great relationship and hope to work again with the Trump Organization.
The change is said to happen because of Trump’s politics. It’s no secret that Trump has made a lot of people angry all over the world. It makes sense that those people no longer want to support him or what he stands for. With that being said, the hotel has suffered financially.
The target audience for the tower, wealthy individuals, have a variety of other luxury hotels to choose from in Toronto so they don’t have to settle for Trump’s tower. Trump should have known that mixing politics and business was not a good idea.
Pankaj Aggarwal, a University of Toronto-Scarborough marketing professor, said that the core values of the United States and Canada are different. He was referencing the recent Liberal government election. It seems that many Canadian natives agree. They believe that the Trump name should have no place whatsoever in Canada. Others are more specific in their demands and urge the Trump name to be removed from Vancouver as well.
Some Canadians see this move as a victory but some are more skeptical. The reason they are skeptical is because it is likely that this is a business move. As stated before, the tower was not doing well so it was probably in Trump’s best interest to hand it over to JCF Capital (for an undisclosed amount). In other words, this trade probably helped Trump rather than hurt him.
Also it is important to know that JCF Capital supports Trump, at least in business. As stated before, they said that they look forward to working with the Trump Organization in the future. So, the name on the tower will change but will the ethics and morals behind the tower change too? That answer will only come with time.
All in all, the removal of the Trump name should be, for the majority, a good thing. It’s removal will send a message to the rest of the world that for one, Canadians want nothing to do with Trump and what he stands for. Second, Trump is not as high and mighty as he wants us all to believe considering his failing businesses. The less Trump reminders in the world, the better.