Company JCF Capital ULC, which owns Trump International Hotel & Tower in Toronto, Canada, has reached an agreement to terminate a contract with the hotel chain Trump Organization, according to Bloomberg.
As a result, the hotel Trump International Hotel & Tower in Toronto will cease to use the name of the President of the United States Donald Trump.
JCF Capital ULC will pay Trump company at least $6 million, the agency reports citing its sources. A sign with the name of the hotel will be removed in early August. In the future, the 65-storey building can change the brand to Marriott International Inc.'s St. Regis.
JCF Capital acquired the hotel under the brand of Trump last year from the developer Talon International.
