Republican presidential candidate Donald Trump's Trump Hotels confirmed the name of its new lifestyle brand Monday, introducing Scion.
The new four-star brand, which was first announced back in June, was inspired by the recent boom in social clubs as well as the emergence of the "we" economy, according to the hotel company.
Interestingly, Scion, which means "descendant of a notable family," is the same name of Toyota's automobile brand targeting younger customers. Trump's Scion will seemingly look to do the same.
According to Trump Hotels CEO Eric Danziger, the name pays tribute to the Trump family all the while differentiating itself from the company's luxury brand. "We wanted a name that would be a nod to the Trump family and to the tremendous success it has had with its businesses, including Trump Hotels, while allowing for a clear distinction between our luxury and lifestyle brands," Danziger said in a statement.
The new chain will emphasize community and aims to deliver guests experiences as unique as their particular location. However it's unclear where the brand will develop. According to Monday's announcement, the brand is expected to open properties in "city and resort locations that have a true sense of place and personality."
Trump Hotels Executive Vice President of New Brands and Innovation Kathleen Flores also said Scion is "fashioned with the developer and owner in mind," pointing out that the hotels will offer a "compelling return on investment."
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"Our business at Trump Hotels is stronger than ever and we are incredibly excited about the future of Scion, the newest brand in our hotel portfolio," said Ivanka Trump, Executive Vice President of Development & Acquisitions, The Trump Organization, in a statement. "Under the leadership of our CEO, Eric Danziger, along with our world-class leadership team, we are so pleased to leverage our collective knowledge and experience to launch a brand that is vastly different from anything the industry has experienced before."
While Scion is clearly targeting a different group of travelers than those who typically frequent Trump Hotels around the world - specifically those who are younger and value experiences over luxury - it'll be interesting to see how smoothly a company synonymous with luxury can transition into the lifestyle segment.
Nonetheless, there's a clear demand for lifestyle properties among today's millennial business travelers.
It also remains to be seen how Trump's polarizing presidential campaign will impact young travelers' perception of the new brand, with only 24 percent of young voters thinking Trump won Monday's first presidential debate, according to a survey conducted by Public Policy Polling.
What's more, a survey conducted for Forbes earlier this year found that more than four in 10 (45 percent) U.S. residents earning at least $200,000 annually would set out to avoid staying at a Trump-branded hotel or visiting a Trump-branded golf course over the next four years.
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