New York—Final thoughts from the 30th Anniversary NYU International Hospitality Industry Investment Conference…
Donald Trump undoubtedly was a huge attraction for the conference. The Donald was the keynote speaker during the lunch session and the grand ballroom at the Waldorf-Astoria Hotel & Towers was packed. It was so crowded that a good number of attendees had to sit on the floor to listen to Trump.
While Trump had a lot to say about Trump, he didn’t give any insights into the hotel industry, but said that New York in particular is benefitting from the weak dollar.
Whether he is a Democrat or a disgruntled Republican wasn’t clear, but Trump repeatedly bashed the Bush Administration, and warned that the U.S. is in danger of losing its elite status around the world.
“I look at what’s going on in the rest of the world, you don’t hear about the United States in the same breath [as other countries],” he said. “The problem with the U.S. is we’re not respected any more.
“I’ve never seen a period in this country’s history, where the United States has lost its respect. It’s no longer thought of being the power, the country that it was. That can be changed.”
He said the country needs to be treated like a business.
“Put Jon Gray [of The Blackstone Group who negotiated the acquisition of Hilton Hotels Corp. last year] in charge of negotiating with China, and guess what, I think we’d do very, very well,” Trump said.
He said friends in other countries marvel at the fact the U.S. is using diplomats to negotiate trade treaties and the like.
“They tell me ‘I can’t believe we’re getting away with it’,” he said. “Condoleezza Rice, she’s a wonderful woman, but she never comes home with the bacon. Your business is a great business, but it’s only as good as your country.”
He pointed to the Middle East, India, China and Russia as places that are attracting the most development interest.
Trump recently opened hotels and residences in Chicago and Las Vegas, and said he has many more being built around the world.
Trump also said that Europe is beginning to feel the effects of the sub-prime mortgage crisis in the U.S., and it’s not going to be pretty.
“The world is a changing place. Right now, it’s very, very treacherous,” he said. “Financing today is the worst ever. Nobody’s seen anything like it.”
With all the doom and gloom, Trump did offer one piece of advice: “Now is the best time to buy real estate.”
NEXT NYC MAYOR?
Jonathan Tisch, the NYU conference’s chairman and leader of Loews Hotels, lives in one of Trump’s New York buildings and has been a longtime supporter of the city’s tourism initiatives. Trump threw Tisch’s name into the hat to be the next mayor of New York.
It’s not clear whether Tisch took the suggestion seriously, but he could be a viable candidate. As part of the clan that co-owns the Super Bowl-winning New York Giants and his obvious affection for the city, New York could do a lot worse than elect Tisch its major.
LORD OF THE RINGS
Speaking of Tisch, he was flashing two new bling blings during the conference: a new wedding ring and a Super Bowl ring.
Knowing that I’m a Cleveland Browns fan, Tisch, the Giants’ treasurer, allowed me to hold the Super Bowl ring prior to the opening general session. The ring, made of white gold and diamonds, reportedly is worth $25,000. It was made by Tiffany and Co. Each ring has 1.5 carats of diamonds. I’m not sure of the ring’s weight, but I can say it is h-e-a-v-y.
While Tisch was proud of that ring, he was also sporting a gold wedding band that he clearly was quite pleased with. Tisch married Lizzie Rudnick in the fall, and the Giants won Super Bowl XLI in February. Talk about a monumental year.
RECORD CROWD
The conference attracted more than 2,400 attendees and countless others who didn’t pay the conference fee but hung out in the Waldorf’s public spaces to conduct business.
The event is being held at the Waldorf again next June, but I have to wonder how effective the property is for the conference. Tight meeting space, a grand ballroom not big enough to hold everyone (it seemed so big on those Guy Lombardo New Year’s Eve specials my parents watched when I was a kid) and some guestrooms bordering on obsolescence make the grand old hotel a mediocre venue.