Trump Hotel in Panama Reflagged as Bahia Grand Panama

By Anna Breuer on 9 March 2018
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Lobby of the former Trump property in Panama

Lobby of the former Trump property in Panama

The Trump International Hotel and Tower in Panama was reflagged earlier this week as the Bahia Grand Panama, although it was far from certain that the power struggle surrounding that property was over.

The hotel’s owner, Orestes Fintiklis, took possession of the hotel on Monday, a Panamanian court order in hand.

The dispute between Fintiklis, a Miami-based investor who owns a majority of the units in the property, and the Trump organization began late last year as Fintiklis moved to cut ties with the Trump brand.

The property has “steadily been losing market share and stands in last place among its peer luxury hotels in all the relevant metrics for success in the hotel industry,” according to legal papers filed in a lawsuit by Fintiklis.

The Trump organization responded to the court order saying that it had merely authorized “the the appointment of a temporary, third party administrator to oversee the management of the property while the underlying dispute is being litigated.”

(Photo: Accura Media Group)

Accura News

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