Trump will maintain hotel ownership: In a press conference on Wednesday, U.S. President-elect Donald Trump said he would maintain ownership of the Trump Organization but hand control to his two sons. Ethics watchdogs warned that this would not prevent conflicts of interest. (Read Reuters’ story.) Additionally, a Trump attorney said that the president-elect would take steps to avoid profiting from any foreign officials who chose to book rooms at his hotels by donating the money to the U.S. Treasury. (Time has the story.)
Trump Toronto for sale: The majority of Toronto’s troubled Trump International Hotel Tower and the Trump Residences has been put up for sale. It’s being handled by receiver FTI Consulting Canada and comprises 211 hotel and 74 residential units and the building’s retail space, including the spa, the Calvin bar and America restaurant. A minimum price of C$298 million (US$225.2 million).
Hersha acquisitions: Hersha Hospitality Trust closed on the sale of a 203-room Courtyard by Marriott in Alexandria, Virginia, and a 120-room Residence Inn in Greenbelt, Maryland for US$62.0 million. It agreed to a six- month extension to close on the sale of three suburban West Coast hotels for US$130.5 million; and it acquired the remaining ownership interest of the 285-room Mystic Marriott Hotel & Spa in Mystic, Connecticut.
Hilton Phoenix management: Heavlin Management Company assumed management of the 259-room Hilton Phoenix Airport Hotel, its seventh property in Arizona and Alaska.
New Nikki Beach president: Family-owned Nikki Beach Worldwide of Florida appointed Thomas Brosig president. Company founder Jack Penrod will continue as chairman and CEO. Previously, Brosig was an independent strategic business consultant since 2012, and as president and CEO of Margaritaville Casino & Restaurant in Biloxi, Mississippi.