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Attractions in Vancouver cater to nature enthusiasts and history buffs, art fans and culture hounds, solo travelers and family groups. Protesters hold signs during the grand opening of the Trump International Hotel and Tower in Vancouver on Feb. 28, 2017.
Owner Jew Kim Tia, who announced the Trump deal in 2013, did not return a request for comment. The disappearance of the hotel designed by prominent Vancouver architect Arthur Erickson was not lamented by some city residents.
He has been vocal since the hotel opened in 2017 about how the Trump brand was an affront to a city known for its diversity and inclusion. Former mayor Gregor Robertson was another who registered objections to the name early on, and he declined to attend the opening.
The latter company would be the entity that oversaw the non-condo portion of the building as part of its hotel -management agreement with the Trump Organization. Mr. Tia’s main development and real estate company, Osborn Group, also owns the Hudson’s Bay parade downtown, a major development site and the large chunk of land in central Vancouver that was once home to the city’s oldest social-housing complex.
The Four Seasons chain, which had to leave its Pacific Center building last year, has been searching for a site. Vancouver had been suffering from a shortage of hotel rooms before the pandemic, and those in the industry had been lobbying the city to find ways to encourage more construction.
And Alberta bureau chiefs, providing a comprehensive package of the news you need to know about the region and its place in the issues facing Canada. “I truly do not know the answer to that question at this point in time,” said Jew Kim Tia, the CEO of Malaysia-based TA Global Broad.
When it filed for bankruptcy Thursday, that company listed $3.6 million in debts and only $839,000 in assets, Canadian records show. The parent company blamed the bankruptcy on its long-running closure: “Its ongoing expenses since the outbreak of COVID-19 and lack of revenue has placed into a position of insolvency,” TA Global Broad wrote on its website.
“Like so many other developers who rely on international travel for the majority of their business, the Covid-19 pandemic has severely impacted their numerous properties, forcing them to remain closed and make this tough decision.” At the opening of Trump Vancouver, held a month after his inauguration, Trump ’s sons Eric and Donald Jr. were not yet hard-edge political acolytes of their father.
That strategy has struggled in other places, such as Chicago and Miami, according to documents the Trump Organization has filed with local governments. This year, the annual report said, the pandemic compounded the problems by slamming Canada’s economy and reducing international travel.
People walk past the closed Trump International Hotel Vancouver, in Vancouver, British Columbia, Friday, Aug. 28, 2020. The hotel officially opened in February 2017 with Donald Jr. and Eric Trump attending, along with developer Tia Jew Kim.