That helps explain why Trump’s hotels, casinos and golf courses in the U.S. saw their market share of visits fall by 14 percent in July from a year earlier, according to Foursquare, which tracks the locations of 50 million users. The hardest-hit venues were in New York and Chicago, while the drop-off was steepest among women in Democrat-leaning states. Travel website Hipmunk, which caters to younger travelers, said Trump’s share of hotel bookings on its site has fallen 58 percent in a year.

Limited Control

Trump isn’t the only one who suffers when his brand takes a hit. Some properties with the Trump name on them aren’t owned or operated by Trump, but rather just license his name. Others, he only owns a portion of -- including Trump Tower, where he controls 30 of the building’s 58 stories.

The Trump Organization said in a statement that the data from Hipmunk and Foursquare had been “manipulated to appear meaningful” and that the group’s hotels are exceeding their goals while golf-club membership is at an all-time high. The Trump Organization doesn’t disclose its revenue or profits because it’s a privately held company.

‘Continued Growth’

“We continue to outperform our competitors, and we are very enthusiastic about the future and our continued growth,” said Eric Danziger, chief executive officer of Trump Hotels.

Even while campaigning for the world’s most powerful office, Trump has missed few opportunities to express his own enthusiasm for his brand, and events have been held at his hotels and golf courses. The media exposure is hard to put a value on, but the recent opening of Trump’s Washington hotel, for example, was covered much more widely than it would have been if he hadn’t been running for president. And next week, the former reality-television star will get a chance to put both his political platform and his personal brand on display at the first debate with Clinton, which is expected to draw one of history’s largest audiences.

It may also prove one of the more divisive events in recent American politics, though. Trump has long been a polarizing figure -- “one thing that has been consistent is him being controversial” -- and in the past that has fed into his brand’s value, according to Henry Schafer, executive vice president at the Q Scores Company, which tracks perceptions of brands and celebrities. There are people the public loves to hate but will also buy from if the product’s right, Schafer said, citing the Kardashians as another example.

Ideals, Values

But the dynamics changed when Trump’s name became associated with ideals and values rather than just his personality, he said.