Australian property developer says Trump hotel plan scrapped due to 'toxic' brand
Euronews.com • • world
Key Points:
- Plans for a $1.1 billion, 91-storey Trump hotel and apartment tower on Australia's Gold Coast have been canceled due to the Trump brand becoming "toxic" to Australians, according to developer David Young.
- Young, CEO of Altus Property Group, stated he intends to proceed with the development under a different luxury brand after the project's association with the Trump Organisation was deemed detrimental.
- The Trump Organisation, managed by Donald Trump's adult sons, reportedly withdrew from the deal after licensing obligations were not met, as confirmed by a spokesperson.
- Public opposition included an online petition with over 124,000 signatures criticizing the project and President Trump's stance on democratic norms, influencing local sentiment against the development.
- Despite the project's cancellation, Young emphasized there was no personal conflict with the Trump family, describing the decision as purely business-driven amid the brand's damaged reputation.