File photo: Protesters put up signs during the grand opening of the Trump International Hotel and Tower in Vancouver, British Columbia, Canada on February 28, 2017. Reuters / David Ryder
VANCOUVER (Reuters) – The company that operates the Trump International Hotel in Vancouver said on Friday it had filed for bankruptcy, blaming the coronavirus epidemic for the loss of income and financial trouble.
T.A. Hotel Management Ltd. Partnership (TAHMLP), Malaysia-based T.A. Global Rental Unit (TAGL.KL), Said the temporary closure from March due to COVID-19 affected the hotel business.
The tower was owned by Vancouver-based developer Holorn Group, which licensed the project under a Trump name under a 2013 agreement. The 69-storey luxury hotel in downtown Vancouver opened in 2017 amid protests from US President Donald Trump.
A statement on the company’s website said, “After the outbreak of Kovid-1 and the lack of revenue due to lack of current revenue, THMLP has been put in bankruptcy.”
Documents filed in Canada on Thursday show that T.A. Hotel Management Ltd. Partnership C owes 4.79 million ($ 3.66 million) and has total assets of 1.1 million. T.A. The hotel management rented out the hotel premises and it was managed, the statement said.
T.A. In 2019, hotel revenue fell 4% as food and beverage sales declined, according to the hotel management’s annual report.
T.A. Global B.H.D. And the Halorn Group did not respond to a request for comment
Grant Thornton Ltd. has been appointed as the Trustee. A meeting of creditors will be held on September 16.
(1 = 1.3091 Canadian dollars)
Reported by Moira Warburton; Edited by Leslie Adler and Will Dunham
.
