Toronto

Other Trump projects have also run into problems. In 2007 in Toronto, Trump donned a hard hat to mark the start of construction of Canada’s second tallest tower at the time. He’d sold his name’s use to Alex Shnaider, a Canadian billionaire who set up Talon International to develop the hotel-condo tower. Shnaider made a fortune in the Ukrainian steel industry but had never done a major real estate project.

After extensive delays, the tower opened in 2012, but there were so many five-star hotels in Toronto opening at the time that occupancy was below the Trump-Talon projection of 55 to 75 percent until room rates were slashed. Two of those who had bought the hotel units to be managed as investments say they found out just before closing that they had to pay a 3 percent annual management fee, according to their lawsuit.

Retiree Herbert Crockett put a large down payment on a $900,000 unit and felt cheated.

"He owned hotels everywhere,” Crockett said in an interview. “The Trump name was all over the marketing materials. That was a big factor in the investment. I felt deceived."

He and about 20 others sued Talon and Trump for marketing materials they said suggest returns could run as high as 21 percent. In July, an Ontario judge dismissed their case, saying they should have been more cautious. Two investors are appealing.

Canceling a Contract

Meanwhile, Talon is trying to cancel its licensing and management contract with Trump, according to court documents and Talon’s lawyer. In December, Trump filed an application alleging Talon was trying improperly to terminate the management contract in an attempt to unload 280 units, or about 70 percent of the tower’s total, in a bulk sale. Talon’s lawyer denied the allegations.

“Both Talon and the board want new management because they’re not happy with the Trump management,” Symon Zucker, the lawyer representing Talon, said by phone. “He’s not providing the value. There are other brands that will enhance the property.” The parties are in mediation, he said.

Trump called the Toronto hotel "a tremendous success" and said that is why the owner wants to sell. "Normally I would let them do that," he said in the interview. "Maybe I will, maybe I won’t. I’d rather buy it."