A reckoning for the Trump brand: The mob attack on Congress last week by U.S. President Donald Trump’s supporters has spurred a reckoning for the Trump Organization by businesses and institutions, at a scale far greater than his previous polarizing actions, writes The New York Times. The Trump brand may not fully recover from the fallout of last week’s events, hospitality analysts say and some people close to the business acknowledge. Other companies linked with the Trumps, including Deutsche Bank, the president’s largest lender, and Signature Bank are also seeking distance from him and his business.
Service Properties Trust gets termination notice from Hyatt: Newton, Massachusetts-based Service Properties Trust (SVC) has received a notice of termination from a subsidiary of Hyatt Hotels Corp., with respect to the management agreement for 22 Hyatt Place hotels owned by subsidiaries of SVC. Hyatt’s obligations under the management agreement, which requires minimum returns of US$22 million annually, is supported by a US$50 million limited guaranty. (Hyatt is current on its payments, but recently exhausted its US$50 million guaranty.) SVC and Hyatt are in discussions which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt. However, if those discussions do not result in an agreement, SVC expects to transition management of the 22 hotels to Sonesta International Hotels Corp. on April 8, under the Sonesta Select brand.
New CEO of IHG Owners Association: The IHG Owners Association, which represents the interests of IHG (InterContinental Hotels Group) franchise hotel owners worldwide, has named John Muehlbauer as chief executive officer. Muehlbauer succeeds Don Berg, who has been the Association’s CEO since 2015. Berg announced his intention to retire at the end of 2019 and participated in the CEO successor search. Berg will remain with the association as a consultant for the next six months. Muehlbauer is a Georgia native who served in various positions at IHG for 13 years, including roles in distribution, sales and marketing, loyalty and corporate planning.