Trump's Name Stripped From Panama Hotel After Legal Dispute

Trump's Name Stripped From Panama Hotel After Legal Dispute

Trump's Name Stripped From Panama Hotel After Legal Dispute

The removal of the Trump name from the Trump International Hotel Panama came after a days-long standoff between the majority owner, Cypriot businessman Orestes Fintiklis, and the President's company, the Washington Post reported on Monday.

The Trump organization said Fintiklis resorted to "mob style tactics" by repeatedly attempting to "infiltrate and disrupt its computer systems and threatening and intimidating any employee of the Hotel that resisted".

In recent weeks, physical confrontations between Fintiklis and Trump staff at the hotel began. This time, he played what he said was a traditional Greek song, "Accordeon", an anti-fascist anthem, and he sang along in Greek.

The Trump Organization did not immediately respond to Newsweek's request for comment or confirmation about Fintiklis wresting power from the global real estate empire.

Fintiklis has been fighting to cancel the contract with the Trump Organization which runs through 2031 because he blamed the company and the Trump brand for a fall in profits.

"This isn't what you expect from a luxury hotel", one guest was heard fuming when told Thursday that access to running water would not be restored for hours.

The Trump Organization manages the hotel in the 70-story tower overlooking the Punta Pacifica Peninsula and the new majority owner had gone to court in the US and Panama to evict the company run by President Donald Trump's sons.

"I could really do without the Trump Mojito".

A marquee with the word Trump removed, is seen outside the Trump Ocean Club International Hotel and Tower in Panama City, Monday, March 5, 2018.

According to lawsuits filed in the USA, he said the number of guests at the hotel was falling.

If it wasn't the end of the standoff at the Trump hotel, it seemed at least to be a turning point. Though water was restored late Wednesday, the Trump Organization seized the opportunity to perform some additional maintenance, extending the cutoff into late Thursday.

Originally, Fintiklis, and other hotel unit owners, complained that the president's vast unpopularity in Latin America was responsible for the 70-story property's decline in revenue.

The dispute left hotel employees not knowing from one day to the next who they should take orders from or whether they will have jobs when the dust settles. "We apologize", the site said.

The ejection appears to be lasting - a worker was photographed on Monday pulling the "TRUMP" name off a marble sign in front of the property.

Representatives at Trump Hotels dispute the validity of the firings.

Fintiklis and his allies claimed that Donald Trump's name had hurt business, which hurt their investments.

The hotel and most of the apartments were sold a year ago to Fintiklis's Ithaca Capital Partners, which is based in Miami.

For its part, the Trump Organization accused Fintiklis of breaching his contractual commitments.

According to emails sent by Fintiklis to fellow owners of the hotel condo units, his units alone are running a six-figure monthly deficit.

"Our investment has no future so long as the hotel is managed by an incompetent operator whose brand has been tarnished beyond fix", Orestes wrote to his fellow hotel owners in a January email obtained by the AP.

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