Ok, maybe Donald Trump won’t go broke but some of his businesses seem to be heading in that direction, especially since he announced he was running for president.
Data compiled by Foursquare shows just that.
“Since Donald Trump announced his candidacy in June 2015, foot traffic to Trump-branded hotels, casinos and golf courses in the U.S. has been down. Since spring, it’s fallen more,” they wrote in a report last week.
For instance, they found that Trump properties’ share of visits fell as much as 14% year-over-year in July.
Interestingly enough, before the GOP nominee even announced his presidential bid, traffic at Trump properties was pretty much steady, the findings show. However, since his announcement, foot traffic has declined across the board, especially in “blue states”, as well as from one specific demographic: women.
“In August 2015, the share of people coming to all Trump-branded properties was down 17% from the year before…as Primary voting season hit full swing in March 2016, share losses grew again,” FourSquare wrote. “The properties that were hardest hit were the Trump SoHo, Trump International Hotel & Tower Chicago and Trump Taj Mahal, down 17–24% in raw foot traffic this past year as compared to the previous year.”
Most of Trump’s hotels, casinos and golf courses in the U.S. are located in “blue” democratic states, as the Big Data research firm pointed out. The data also showed that the loss in foot traffic ran deeper in democratic states compared to the national average.
“For the past five months, Trump’s blue state properties — spread between New York, New Jersey, Illinois, and Hawaii — have taken a real dip, with diminishing visits starting in March and a widening gap that continues straight through July, when share fell 20% versus July 2015,” they wrote.
Looking specifically at women, Trump properties have seen double-digit declines in visits from this demographic group.
“In July, visit share among women to Blue State properties was down 29%.”
However, Trump may not necessarily be affected by the slowing business at his properties. “[M]any Trump-branded properties have different owners and have licensed the Trump brand, so the economic impact on Mr. Trump himself may be very small in such cases.”
So maybe the headline was a little exaggerated…Trump may not be going broke.
Read more by HashtagTrumped
