Eric Trump, Executive Vice President of the Trump Organization, announced today that Trump Hotels and Irongate, the front desk unit owner, agreed to a hotel management buyout and license agreements for Trump International Hotel in Waikiki, Hawaii.
The hotel residences initially sold in one day in 2006 for US$700 million total. This was followed by the opening as a hotel in November of 2009. Trump International Hotel, Waikiki will continue to be managed by Trump Hotels for the next 3 months, until February 6, 2024.
But the hotel was never personally owned by Donald Trump, despite the fact that in 2016 he told Hawaii News Now that he owned the Trump International Hotel & Tower in Waikiki.
In actuality, Trump International is a condominimum and the individuals who bought the units are the property owners.
According to Eric Gill of Unite Here Local 5 in Hawaii, Donald Trump never owned the building. What Trump often does is brand his name on a project. His name goes on the wall, and it is believed he is paid quite a lot of money for that.
The new owner, Irongate, will rebrand the hotel as Wakea Waikiki Beach.