When Donald Trump was elected president in 2016, it was a "huge" turn for his career — but bad for his businesses.
According to NBC News, financial reports showed major losses, including a $23 million loss at his Turnberry resort in Scotland, as well as losses at his golf courses.
The damage at Trump Soho was so bad — $700 room rates went down to $400, employees were reportedly laid off and the signature restaurant, Koi, closed, and within five months into the Trump administration — Trump's name came off.
The Trump Organization reached a deal last November that allowed the company to exit the property by the end of 2017, according to The New York Times.
This was the second time the Trump name was erased from a hotel (the first was a hotel development in Toronto). A representative for Trump Hotels declined comment.
Donald Trump never owned the hotel; his name was licensed and it was managed by Trump International Hotels Management.
Trump Soho, which opened in 2010, is now The Dominick under new management — and the 46-story, 391-room property is getting back on track with a new identity.
But not much has changed.
Trump Soho was already a high-rated luxury hotel, having received the prestigious AAA Five-Diamond award in 2017, and Curbed New York reported celebrities like Rihanna and Jessica Alba stayed there.
What's it like inside?
Arriving guests are greeted by an army of doormen. The quiet, dim-lit lobby is modern, with soaring, double-height ceilings, marble floors and columns and leather chairs.
All guestrooms have floor-to-ceiling windows, most of the higher floors with million-dollar views (whether facing downtown, midtown or the Hudson River), and larger suites have outdoor terraces.
The hotel also has a spa, outdoor pool, restaurant and bar.
Changing management and rebranding has done well for the hotel.
General Manager Dant Hirsch tells CNBC Make It that The Dominick has exceeded budgeted revenues ini the first five months of this year, and the annual rooms revenue total is forecasted to be at least 30 percent more than 2017.
"We did light renovations to all guest rooms and our poolside lounge, Bar d'Eau, the first half of this year," Hirsch says, "and we have more exciting changes on tap for the second half, including the launch of Babor Signature Spa coming in fall."
Hirsch adds: "The hotel has, and always will, continue to provide the highest level of luxury service."
Doubles start at $375/night for summer rates.
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