The Trump Ocean Club International Hotel and Tower, third building from left, in Panama City.
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An attempt to oust President Donald Trump's hotel business from managing a luxury hotel in Panama has turned bitter, with accusations of financial misconduct.The call from a senior Trump executive to the CEO of Marriott, which manages more than 6,000 hotels, raised the awkward matter of how American companies interact with a business owned by the president.Since Trump took office, Trump hotels in New York and Toronto have quietly reached deals to separate themselves from Trump's brand.Trump Hotels accused Ithaca of deceiving its fellow hotel owners and illegally terminating the Trump contract.The effort to remove Trump hotels from managing the hybrid condo-hotel units on the property began last year, after Ithaca Capital Group purchased 202 unsold hotel units from the building's struggling developer. After buying the units in August, Ithaca and the other owners voted in November to fire Trump's directors, clearing the way for terminating Trump's contract and the $15 million arbitration claim against Trump Hotels.
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