SoHo hotel to end association with Trump

NEW YORK — The Trump SoHo hotel is dropping the name it shares with the U.S. president.

The Trump Organization said Wednesday that it is ending its licensing deal with the New York hotel amid reports that the property has struggled to attract business.

The company owned by President Donald Trump said that it has signed a deal with the owners of the hotel and residential tower to end management of the property and the use of the Trump name. The announcement comes as the company’s other hotels and resorts around the world are showing mixed results.

The tower in the hip, touristy Manhattan neighborhood of SoHo has been the source of controversy and trouble for years.

One of its original backers turned out to be a businessman convicted in a Mafialinked stock fraud scheme. Later, Trump’s three oldest children were alleged to have defrauded buyers of condominiums in the building in a case that was settled in 2011.

Last month, a New York City prosecutor who had dropped a probe sparked by the fraud suit returned a $32,000 campaign contribution from a lawyer who represented the Trump Organization in the investigation. The prosecutor said the contribution had no impact on his decision to drop the probe.

There have also been signs of business trouble recently at the Trump SoHo. Its sushi restaurant closed earlier this year, and The New York Times has reported a drop in room rates.