Trump Evokes Doubts of Fading Apprentice With Newest Link to Golf as Brand
Donald Trump, the real estate developer turned TV personality, is betting his name will boost the value of his golf courses even as the premium for the brand declines on condo properties and ratings slide on his show, “The Apprentice.”
Trump has acquired nine golf properties in the U.S., including four since 2008, after mostly steering clear of using his own money to buy real estate since 2005. In July, he started building a 750 million-pound ($1.15 billion) luxury golf course and resort in Scotland. Trump says that putting his name on the courses increases membership sales and the fees he can charge.
The Trump name hasn’t prevented the failure of real estate developments in Florida and Mexico, nor has it helped his New York condos sell for more than other apartments in the city. Trump buildings in Manhattan, whether he owns them or licenses his name for the properties, command prices similar to or lower than comparable towers, said Sofia Song, vice president of research at StreetEasy.com, which compiles real estate listings.
“There’s no obvious premium for the Trump name,” she said in an interview.
With the Trump name appearing on vodka, health products, mattresses, furniture, cuff links, shirts, ties and a seminar company once known as Trump University, the brand has been devalued, said Josh Feldmeth, chief executive officer of the New York division of consulting company Interbrand.
Full Story: bloomberg.com