“I think that’s a huge problem for him,” said Michael D’Antonio, a CNN contributor and Trump biographer. “It has created toxicity for a significant part of its market. I don’t know if some will ever come back. Most brands are trying to avoid controversy. I feel like it has forced the hand of the companies that have decided to withdraw. “
The Trump Organization owes Deutsche Bank around $ 340 million in the coming years, the person familiar with the bank’s thought said. A spokesperson for Deutsche Bank declined to comment, citing a ban on discussing relationships with potential clients.
“It could be that the opposite is true now,” D’Antonio said. “Anyone who goes to Washington on business would be foolish to stay at the Trump Hotel unless all of their business is with the Republican National Committee.”
“In our opinion, for four years he violated the terms of this agreement by passing this contract to a federal office holder. It should have consequences, ”said Noah Bookbinder, executive director of Citizens for Responsibility and Ethics in Washington (CREW), a watchdog group that has often criticized Trump and his companies.
Bookbinder said Trump was already likely to lose business at his hotels, including his property in Washington, when he is no longer president. But last week’s actions only accelerated companies’ decision to no longer do business with Trump, Bookbinder said.
“I definitely think he would have kept more if it weren’t for the events of last week,” he said. “Had he emerged as the center of power for the Republican Party and the likely candidate in 2024, the RNC and others would have had a strong incentive to continue hosting events at its hotels.”
Bookbinder said violence on Capitol Hill could also give companies that have contracts with the Trump Organization a way out of those commitments.
“It is the norm for many contracts to have withdrawals if there is illegal or immoral conduct,” he said. “I guess a lot of businesses will be keen to take advantage of these kinds of legal openings.”
Other properties bearing Trump’s name could be at risk in the future. A lot of these deals are marketing deals, in which he authorizes the use of his name – and makes a lot of money for doing so.
But it’s unclear how long the backlash against Trump from last week’s riot will last.
“There are several times in recent years that it seemed like the president had crossed a line and yet things quickly returned to normal,” Bookbinder said. “I suspect that won’t be the case here.
Trump is leaving office with tens of millions of staunch fans, D’Antonio said, opening up the possibility for new business ventures and new sources of income, even though he has closed the door on other business relationships.
There was a lot of speculation before last Wednesday that Trump would start his own media business after stepping down. Despite the backlash from the Capitol attack, it’s still a possibility, D’Antonio said.
“How long could broadcasters or whatever hold out on money?” he said.
So it’s possible that even though Trump severely damaged his brand last week, his overall business outlook is in better shape today than it was before he started his presidential campaign in 2015, simply because of loyalty. which it has acquired with much of the country over the past five years.
“I’m not sure if its absolute base demographics are a good fit for its high-end businesses,” D’Antonio said. “They can’t pay hundreds of dollars a night to stay at some of his properties or belong to his country clubs. But the whole campaign was launched as a branding exercise. I think in terms of the mass market, he is better off. “
– Charles Riley contributed reporting.