From the New York site: Trump’s name may be everywhere right now – except on new hotels. Following reports that occupancy rates at Trump Hotels are falling, new hotels from the brand will now longer bear Trump’s name.
Instead, the new line of Trump Hotels will be called Scion, according to Fortune. The rebranding is said to be part of a new push geared towards millennials.
“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,” Trump Hotels CEO Eric Danziger said in a statement.
However, Trump Hotels insist the rebranding has nothing to do with the Trump controversail presidential campaign. They say they are simply reacting to empty rooms.
At the new Trump International Hotel in D.C, rates fell below $500, while nearly every other five-star hotel was sold out for the International Monetary Fund conference.
“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, who is the executive vice president of development and acquisitions for the brand, said in a statement. [Fortune] –Christopher Cameron