Company: Grand Hyatt Hotel Parent Company: Hyatt Hotels Subsidy Source: local Location: New York County: New York Project Description: luxury hotel Year: 1980 Major Industry of Parent: hotels Specific Industry of Parent: hotels Subsidy Value: $359,000,000 Program Name: property tax abatement Awarding Agency: Empire State Development Type of Subsidy:
Source of Data: The subsidy value comes from: Charles V. Bagli, "A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks," New York Times, September 17, 2016; online at (click here) Notes: The existence of the 40-year property tax abatement, which was negotiated by Donald Trump when he owned the property in partnership with the Hyatt Corporation, was reported at the time but the full value was not calculated until the 2016 New York Times story. Trump sold his interest in the hotel to Hyatt in 1996. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.