It has been noted that the owner of the Trump International Hotel Waikiki is rebranding the property, buying out a licensing agreement with the former US president Donald Trump’s company and joining Hilton Worldwide Holdings Inc.’s system via Bloomberg.
It has come to light that the real estate firm Irongate is renaming its hotel Wakea Waikiki Beach and will operate under LXR Hotels & Resorts, a brand that allows hotels to access Hilton’s loyalty and distribution engines while maintaining an independent identity.
The conversion of the property, which has 462 guest rooms and suites, will take place in February as per a statement Friday. The Hawaii hotel isn’t the first to ditch the Trump brand. Properties in New York, Toronto and Panama City have all rebranded in the years since Donald Trump launched his political career.
“We are incredibly proud of our performance at Trump Waikiki since the opening of the iconic tower in November 2009,” Eric Trump, executive vice president at the Trump Organization, said in a separate statement. “We wish them all the best as they bring this property to its next phase.”
In separate news releases issued on Friday, Irongate and Trump Hotels announced what Trump Hotels termed a “significant buyout” of hotel management and license agreements for the hotel.
LXR, one of Hilton’s three luxury brands, will take over the management of the hotel in February 2024. The 38-story, 462-unit residence property sold more than $700 million in residences in a single day in 2006. The tower officially opened in November 2009.
“Since opening, we have achieved some of the highest (average daily rates) in Waikiki year after year, we were the only Forbes “five-star” property on the island of Oahu for 8 years and were consistently ranked in the top 3 Waikiki hotels on Trip Advisor,” said Trump Organization executive vice president Eric Trump in a statement.
“It has been an honor to work with the team at Irongate and we would like to thank (Irongate chair and chief executive officer) Jason Grosfeld for his dedication and professionalism. We wish them all the best as they bring this property to its next phase.”