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NEW: @realdonaldtrump's company is showing new signs of financial decline. One major example: Trump's Chicago hotel. New docs show its profits fell 89% in 3 years after Trump entered politics.
Compare the balance sheets at @realDonaldTrump’s Chicago hotel from 2015 and last yr. Revenue fell, and they couldn’t cut expenses fast enough, so profits plummeted even faster.
This was a surprise. For all the bad things that the Trumps say about the media...when Trump Org wanted to prove their Chicago hotel was suffering, they cited a story in The Washington Post.
(I looked for a Washington Post gif to illustrate this surprise but all I found was Post Malone)
Earlier this yr, we reported that Trump Doral’s profits fell 70% from 2015 to 2017. We now see Trump Chicago followed a remarkably similar trajectory — with profits falling even further in 2018.
(Doral on left, Chicago on right)
One thing to watch: Trump hotels stake their identity on over-the-top luxury. As they cut costs, will guests notice the difference?
At Doral, from 2015-2017, expenses fell 16%.
Last wk, the @DailyMail found moldy pool chairs/broken elevator there.
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