NEW YORK--(BUSINESS WIRE)--Trump International Hotels Management and the Board of the Trump SoHo Condominium New York announced today the buyout of the remaining term of the management and license agreement of the Trump SoHo Hotel located at 246 Spring Street in Manhattan. The transition is anticipated to take place by year-end.

“The hotel has achieved high ratings and earned many accolades including the prestigious AAA Five-Diamond award for five consecutive years under the management of the Trump Organization and the impressive efforts of the hotel’s employees,” said Gil Keinan, Vice President of the Board.

“Under the seasoned management of the Trump Organization, the hotel has been established as one of the finest in New York City with recognition among top critics, including Conde Nast Traveler Magazine and Forbes Travel Guide. We recognize and sincerely appreciate their contributions to this exceptional asset and the strong working relationship we have with the Trump Organization,” said Bill Doak, 1st Vice President, Hotels of CIM Group, the majority owner of units in the Condominium.

“The Board and CIM have been first class in every regard. We have truly enjoyed our relationship and look forward to exploring new opportunities in the future,” said Eric Danziger, CEO of Trump Hotels. “Over the past several years, Trump Hotels has expanded into a multi-dimensional hotel group, and we look forward to continuing that expansion into new domestic markets,” he added.

About Trump Hotels

Trump Hotels is a family enterprise with a history of providing extraordinary customer experiences. The brand's exceptionally designed hotels in iconic locations put guests at the heart of each destination. Led by seasoned hotel industry veteran Eric Danziger, Trump Hotels is part of The Trump Organization, helmed by Donald Trump Jr. and Eric Trump.