Trump tower condo owners lose hotel
September 3, 2020
Owners of some of the most expensive condominiums in Canada have lost the luxury hotel that anchored the Trump International Hotel & Tower in downtown Vancouver.
TA Hotel Management, which operated the hotel, declared bankruptcy on August 27.
The Trump-branded hotel permanently closed August 27 after being shut down for five months due to the COVID-19 pandemic.
The 15-floor, 147-room Trump hotel sits under more than 200 luxury residences in a 63-storey tower—the second-tallest building in Vancouver. The hotel had closed April 4 and, unlike other major hotels in Vancouver, never reopened.
Trump International Hotel & Tower sold out 214 luxury condominiums at an average of $1,615 per square foot by 2016—a record price at the time for a new condominium project in Canada. Trump tower sales included a selection of $6.4 million sub-penthouses, according to the Holborn Group, which developed the $360 million project with TA Global Bhd, the parent company of TA Hotel Management. Three top-floor penthouses were priced from $20 million.
Trump Vancouver was named Canada’s No.1 real estate development by Elite Traveler magazine and was the only Canadian development it ranked among the Top 100 developments in the world when it opened in February 2017.
Rumours are rife in Vancouver that the Four Seasons hotel chain is in play to take over the Trump hotel site because the Vancouver Four Seasons Hotel closed in January after 43 years. The Holborn Group denied this rumour in January.