Trump Hotels slashes job postings as global travel slump sets in
Even the President's hotel chain isn't immune to global market pressures caused by the Coronavirus pandemic.
Thinknum Alternative Data reveals that Trump Hotels ($TRUMP), properties led by US President Donald J. Trump until he was sworn into office, slashed more than half of their job postings by mid March, cutting more than 100 open roles to less than 50 positions at last tally.
When the pandemic was moving across Europe and as it began to spread in the US, Trump sought to downplay it's impact, tweeting March 9: "Nothing is shut down, life & the economy go on."
But just a few short days after that tweet, his hotel properties - which are still seeking applicants in New York; Washington D.C.; Las Vegas; Vancouver; Chicago; Miami; and Waikiki - began yanking postings.
Trump Hotels is far from alone, however.
Other hotels around the world also cut job postings, as some shut down completely and still others offered their services as makeshift hospitals, and while lawmakers around the world sought sufficient hospital space.
Hotel chains including Marriott, Hyatt and Hilton cut back on job postings as global travel demand plummeted, and other travel-dependent businesses, from airlines to online booking websites, cut jobs listings or saw consumer interest drop as vacations were cancelled and as customers around the world wondered when they would next take a trip.
By March 21, Trump changed his tune, when asked by a reporter during a White House press conference how his business was faring: "It's hurting me and it's hurting Hilton and it's hurting all of the great hotel chains all over the world... sure, it hurts my business."
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.