Trump Takes Hotels Global; Plans 5,400 Keys

With the launch, the team--which will also include son Eric, absent from the proceedings--unveiled an aggressive strategy to build no fewer than 12 ground-up developments by the end of 2010, creating more than 5,400 rooms in places as widespread as Soho and Dubai.

The Trumps emphasized the differentiation of the brand in terms of architecture and amenities. Petrus fielded questions on the specifics of the development strategy and the target audience.

The brand will target, "the top 3% of the traveling public," the COO reported. Based on data culled largely from the Columbus Circle property, he noted that typical Trump guests have "an average household income north of $400,000, are split 50/50 between males and females and average in age from 35 to 55."

No hotel will be less than 200 rooms, he added. Starting with a couple of assets due for completion of groundbreaking in the near future, the rollout will entail properties in:Chicago, due to open in December with 339 rooms, and Las Vegas, the firm's largest, with 1,282 rooms and scheduled for an early 2008 ribbon-cutting. After that, in 2008, hotels will appear in Ft. Lauderdale, FL (298 keys) and Waikiki, HI (463). In 2009, the 400-suite Trump Soho Hotel and Condominium will deliver.

The pace of deliveries is scheduled to pick up in 2010 with no fewer than seven assets promised: Cap Cana, Dominican Republic (400 rooms); Panama City, Panama (369 rooms); Baja, Mexico (392); Toronto (261); Dubai (310); New Orleans (435); and Aberdeen, Scotland (450).

In a post-event email follow-up, Petrus stated that pinning average construction costs at this stage is tricky because, "As you could expect, the cost to build in Panama City is significantly different than Soho or Waikiki."

Neither could he paint a picture of the capital stack. "Currently all of our developments have a some form of a mixed-use component--condo/hotel or condo hotel and residence," he stated. "In most instances financing is typically secured when approximately 50% of the project is sold."