Trump company pulls its name off a Brazil hotel caught up in an investigation
Trump company pulls its name off a Brazil hotel caught up in an investigation
The Trump Hotel in Rio de Janeiro in April, when it was under construction. (Nadia Susman/Bloomberg News)
By Dom Phillips
December 13 at 9:29 PM
RIO DE JANEIRO — Trump Hotels said Tuesday it is removing its brand name from a luxury hotel it manages in Rio de Janeiro and will no longer be responsible for its operation. The move came after prosecutors opened a criminal investigation into investments in the property.
The decision takes effect Thursday, just days after President-elect Donald Trump tweeted that his sons would run his businesses while he was in the White House and vowed they would launch “no new deals” during his time in office. The president-elect has faced criticism that his company’s overseas investments could present conflicts of interest.
The 170-room Trump Hotel Rio de Janeiro, a modern, triangular structure with the Trump name on top, is owned by a Brazilian developer whose former chief executive is Paulo Figueiredo Filho, grandson of the last president under Brazil’s 1964-1985 military dictatorship. The hotel had partially opened in June, just weeks before the Summer Olympics, in the upscale Barra de Tijuca neighborhood where the Olympic Park and Athletes’ Village were located.
In pulling out of the project, the Trump firm cited delays in the construction of the hotel and differences with the developers in “vision.”
More:
https://www.washingtonpost.com/world/the_americas/trump-company-pulls-its-name-off-a-brazil-hotel-caught-up-in-an-investigation/2016/12/13/c332dc2c-b078-4885-8a29-5f29b7da442e_story.html?utm_term=.abded92def50