※Translated with Notion AI. (Plus version)
I’d like to share a little-known aspect of Donald Trump’s real estate business.
This is a true story from his early days when he was still struggling to raise investment funds, an episode that few in the American real estate industry are aware of.
As I mentioned briefly the other day, I’ll now share the background as promised, with no intention to disparage him.
Trump’s first project to bear the “Trump” name was the development of the Grand Hyatt New York hotel in Manhattan.
Current Grand Hyatt New York
This project began in the late 1970s with the acquisition and redevelopment of the aging Commodore Hotel.
He successfully partnered with renowned companies like Citibank and Hyatt, and even secured tax incentives from New York City.
This achievement was the first project in his business to prominently display the “Trump” name, and is now spoken of as part of his branding strategy.
However, when he was still lacking in financial resources and had to rely on major investors, this project did not progress easily.
Although he prominently displayed the “Trump” name on the hotel, conflicts arose with his partner Hyatt, and some investors opposed Trump’s actions.
Trump plotted to push aside all opposition, but his method was astonishing.
