The former Trump Ocean Club, located in Punta Pacifica, will operate under the name of The Bahia Grand Panama, which has not been affiliated with the Trump brand since March 5, 2018.
According to the statement released on Friday, March 9, the Hotel will be operated -without an external manager-, by the Hotel TOC, its owner from the beginning, with the approval of Ithaca Capital Investments and Orestes Fintiklis, the majority owners.
The new administration has the main objective of “safeguarding the interests of the 240 employees and the owners of the hotel units, honoring all previous and future commitments with customers and suppliers”.
This statement is known a day after the Trump Organization informed that it will request the removal of the hotel’s sequestration.
On March 7 it was reported that Trump hotel workers were living with concern the dispute over control of the hotel between the main owner of the property, the businessman Fintiklis, and the company that until last Monday managed the complex, Trump Hotels.