The decision to have The Donald's name taken off the property becomes an telltale sign that his popularity, or lack thereof, as president of the United States has affected the bottomline of his businesses.
While the average daily rate of a hotel in Manhattan in the second quarter of this year stood at $451, the Trump SoHo hotel has been forced to offer prices online below $300 per night. This year, at least 11 of the 12 NBA teams that previously stayed at the Trump hotel in SoHo have gone in a different direction. While some have cited logistical reasons, others have been upfront saying they cannot stay in a hotel that has Trump's name on it.
The SoHo hotel will be the third building to have Trump's name removed. Amid tenant complaints, the owners of three Trump Place apartments in New York decided to have the residences named. In July, the building once known as Trump International Hotel in Toronto removed his name and will be reopened as a St. Regis.
There has been no word on what the name of the building will be changed to, or who would own it next.