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In the News from Panama

Eric Trump Visits Trump Ocean Club

Trump Organization executive vice president of development and acquisitions Eric Trump was in Panama City recently to “strengthen and support” plans to improve Trump Ocean Club, according to a press release from Trump Ocean Club.

The release offered little detail on Trump’s visit. Here is the quote in the release from Trump:

“Each time more multinational companies establish their headquarters in Panama for being one of the strongest and most stable countries in the region, this proved to be an indication of the success that the property would have, more than an investment business, we like to believe that it is an investment that helps boost Panama’s economy, tourism and image.”

Trump’s visit could certainly be taken as a sign that Trump is still fully engaged in supporting the Trump Ocean’s hotel and real estate operation. In the hierarchy of the family organization, Eric plays a key role. He is responsible for all “new project acquisition, development and construction around the world.”

In October, after a lengthy dispute, the Trump Ocean Club homeowners association dropped the Trump Organization as manager of the building’s apartments, attracting international headlines. But the apartment management dispute didn’t impact management of the hotel and the hotel-condos in the tower, which continue to operate under the Trump brand.

Apartment sales in the Trump have been picking up in recent months, as the final apartments become available for sale.

There was no discussion of the issues in the Trump Ocean release. The Trump brand’s success stems from its ability to “adapt to every city in which it develops adopting the culture and the lifestyle,” according to the release. New Trump managing director Carlos Abaunza was also quoted:

“I’ve had the pleasure of leading a team of professionals committed to the chain of Trump Panama, focused on giving more than 100% to exceed the expectations of our guests. Panama has great potential, is a country that is steadily growing and we are pleased to know that our property has successfully manage to join the Panamanian Tourism helping make it one of the reasons why tourists choose to come to this country.”

The full press release from Trump Ocean Club can be found here.

Here is video of the visit: