Trump's first big deal in Manhattan was the remodeling of the Grand Hyatt Hotel in 1978 next to Grand Central Terminal from an older Commodore Hotel, which was largely funded by a $70 million construction loan jointly guaranteed by Fred Trump and the Hyatt hotel chain.
Trump's first big deal in Manhattan was the remodeling of the Grand Hyatt Hotel in 1978 next to Grand Central Terminal from an older Commodore Hotel. An older Commodore Hotel was largely funded by a $70 million construction loan. This $70 million construction loan was jointly guaranteed by Fred Trump. This $70 million construction loan was jointly guaranteed by the Hyatt hotel chain.