Donald Trump's name has been everywhere this election season, but it won't be on his future hotels. Instead, the company has announced that the newest line of luxury hotels, which aims at millennial business, will be known as Scion.
"Scion, which means 'descendant of a notable family,' is a multi-faceted lifestyle brand developed in response to the boom in social clubs and the 'we' economy," according to a press release issued by the brand late last month. In the same release, the company states the decision is not related to a dip in business.
"Our business at Trump Hotels is stronger than ever and we are incredibly excited about the future of Scion, the newest brand in our hotel portfolio," Ivanka Trump said in the statement. "We are so pleased to leverage our collective knowledge and experience to launch a brand that is vastly different from anything the industry has experienced before. We will develop this brand with the same determination and exacting standards we have become known for."
Trump Hotels C.E.O. Eric Danziger said, "We wanted a name that would be a nod to the Trump family and to the tremendous success it has had with its businesses, including Trump Hotels, while allowing for a clear distinction between our luxury and lifestyle brands."
Reports have been widespread that the businessman's candidacy has not benefitted his business: New York reported that the brand is taking a big hit. For instance, rooms at the new Washington D.C. hotel, the opening of which Trump touted in a debate, needs to see $750 nightly room rates to break even, but New York noted that rooms were recently going for under $500 nightly, and had not sold out for a big conference.
Back in August, Foursquare shared data that incicated foot traffic to Trump-branded hotels, casinos, and golf courses had fallen significantly.
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