SOHO, NY — The Trump Soho officially dropped the president's name on Thursday, after the Trump Organization was bought out of its management contract at the hotel last month.
Early on Thursday morning, the Trump Soho, located at 246 Spring St., became The Dominick. Most signs of the Trump logo were removed by Thursday morning.
In November, the Trump Organization announced that it was being bought out of its management contract at the Trump Soho. Like many hotels in President Donald Trump's business, it was managed by and named after the Trump Organization but not owned by the company outright.
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The majority owner of the property, the CIM Group, bought out the remaining term of the Trump Organization's management and license agreement. The price of the buyout was not disclosed.
The Dominick, as the hotel has been newly named, is part of the Preferred Hotels & Resorts group.
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The 7-year-old hotel, which stands 46-stories tall, saw a dip in business after Trump was elected president last year. Koi, a sushi restaurant located within the Trump Soho, shut its doors in June after it reported a drop in business after the election.
"Before Trump won we were doing great. There were a lot of people we had, our regulars, who'd go to the hotel but are not affiliated with Trump," a busser and host at the restaurant said earlier this year.
The hotel itself has seen fewer bookings and reservations since November 2016, according to multiple reports. WNYC reported in May that bookings for corporate events the Trump Soho had decreased, as had room reservations.
The property has also also faced scrutiny over the business dealings of Ivanka and Donald Trump Jr. In 2010, the Manhattan district attorney's office investigated claims that the siblings had misled prospective buyers of condominium units at the Trump Soho. The case was eventually dropped, with no criminal charges filed, after Trump's longtime lawyer Marc Kasowitz donated $25,000 to the re-election campaign of district attorney Cy Vance, according to a joint report from ProPublica and WNYC in October. Vance has denied that the donation affected his prosecutorial decision.
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