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Trump International Hotel Vancouver is permanently closed

Date Added: August 29, 2020 04:15:56 PM
Author: Sutra Web Directory
Category: Business & Services: News & Media

Three and a half years after it first opened its doors, Trump International Hotel and Tower Vancouver has permanently shuttered.

Sources wishing anonymity told Daily Hive Urbanized the hotel property has closed for good, and that staff were laid off Thursday. At its peak, the hotel’s operations employed about 250 people.

Daily Hive Urbanized also obtained a copy of the emailed letter by insolvency trustee Grant Thornton that was sent to employees informing them of layoffs.

On Thursday, TA Hotel Management, the local operating subsidiary of the hotel and tower, filed for bankruptcy, according to Canadian federal government records.

In filings to Malaysian regulators on Friday, TA Global Berhad, the parent company of TA Hotel Management, stated the impact of COVID-19 “has impacted the business and [its] financial position,” adding that “its ongoing expenses since the outbreak of COVID-19 and lack of revenue has placed TA Hotel Management into a position of insolvency.”

A letter from the strata council on Thursday also informed condominium owners that the hotel operator had laid off all staff, filed for bankruptcy, and permanently closed. The tower’s maintenance and operations — both the hotel and residential levels — are now under new management appointed by the tower’s owner.

And as of Friday at 1 pm PT, the Trump Vancouver hotel website has disappeared, and now redirects to the Trump Hotels global website, which no longer lists the Vancouver property. All social media accounts for the hotel have also been deactivated.

A formal announcement on the hotel’s closure and the property’s next steps is expected soon.

This closure also coincides with Thursday evening’s conclusion of the US Republican Party’s National Convention, with President Donald Trump formally accepting the party’s nomination from the White House lawn.

However, the property is not owned by the Trump Organization, but rather local developer Holborn Group, which built the 616-ft-tall, 63-storey tower at 1139 West Georgia Street. It is the second tallest building in Metro Vancouver, after Living Shangri-La directly across the street.
 
~ Via Daily Hive