Grand Hyatt accounting-method change
What happened
promisedocumented Trump described his business record as evidence that he could turn projects from vision into completion.
- The American Presidency Project: Remarks at Trump SoHo in New York City2016-06-22 · Opening paragraphs describing Trump's business record
actionreported The hotel partnership changed the accounting treatment used to calculate rent linked to project income.
- CBS News: Inside a Donald Trump audit: Missing books and unusual accounting2016-08-08 · Sections on the accounting change and city audit
payerdocumented City auditors concluded that the change lowered the rent due to New York City.
- New Jersey Division of Gaming Enforcement: Investigation Report: Donald J. Trump1992-04-15 · Financial stability, casino transactions, Hyatt audit, and licensing sections
- CBS News: Inside a Donald Trump audit: Missing books and unusual accounting2016-08-08 · Sections on the accounting change and city audit
limitationreported The partnership disputed the city's position, and the reporting does not establish that every accounting issue was finally adjudicated.
- CBS News: Inside a Donald Trump audit: Missing books and unusual accounting2016-08-08 · Sections on the accounting change and city audit
People and organizations
- Grand Hyatt partnershipaffected party
- New York Citypayer
Assessment
A government audit attributed reduced public rent receipts to an accounting change. The hotel partnership disputed parts of the city's analysis.