NEW YORK (AP) — The Trump Organization is ending its licensing deal with the Trump SoHo hotel in New York amid reports that the property has struggled to attract business.
The company owned by President Donald Trump says that it has signed a deal with the hotel's owners to end management of the property and the use of the Trump name. The announcement comes as the company's other hotels and resorts around the world are showing mixed results.
The Trump Organization doesn't own the Trump SoHo, as is the case with many Trump-branded properties.
The Trump Organization says it has struck a buyout deal with CIM Group and other owners that will allow it end its management and licensing agreement by the end of the year. The Trump SoHo also offers condominiums for purchase.