Marriott is currently the front runner for taking over the brand and management contracts
After officially going for sale earlier this year, the Trump International Hotel & Tower in Toronto is nearing a change in its controversial name as Marriott International Inc. races to the top spot among the candidates to take over the property, according to sources familiar with the matter.
The sources, who asked not to be identified, added that Marriott’s St. Regis brand is currently the lead contender to take over the 66-storey tower’s brand and management contracts from the Trump Organization, Bloomberg reported.
Representatives for Marriott and the Trump Organization declined to comment.
The property had been hounded by construction delays, a developer with delinquent construction debt, and anti-Trump protests. The chain that takes the tower over will join other five-star brands in the city, including Shangri-La Hotels & Resorts and Four Seasons.
JCF Capital ULC, the closely-held U.S. firm that owns the building, is also in talks with Hilton Worldwide Holdings Inc., which has pitched its Waldorf Astoria name, and Mandarin Oriental International Ltd., according to the sources.
“No final agreement is in place,” JCF Capital operator Jay Wolf said. Mandarin didn’t respond to requests seeking comment, while a Hilton spokesman insisted that the company isn’t involved in active talks.
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Trump hotel in Toronto officially up for sale
The sources, who asked not to be identified, added that Marriott’s St. Regis brand is currently the lead contender to take over the 66-storey tower’s brand and management contracts from the Trump Organization, Bloomberg reported.
Representatives for Marriott and the Trump Organization declined to comment.
The property had been hounded by construction delays, a developer with delinquent construction debt, and anti-Trump protests. The chain that takes the tower over will join other five-star brands in the city, including Shangri-La Hotels & Resorts and Four Seasons.
JCF Capital ULC, the closely-held U.S. firm that owns the building, is also in talks with Hilton Worldwide Holdings Inc., which has pitched its Waldorf Astoria name, and Mandarin Oriental International Ltd., according to the sources.
“No final agreement is in place,” JCF Capital operator Jay Wolf said. Mandarin didn’t respond to requests seeking comment, while a Hilton spokesman insisted that the company isn’t involved in active talks.
Related stories:
Trump hotel in Toronto officially up for sale
