Not so long ago, an association with a US president, whether sitting or retired, would have been regarded as something of immense value.

But a luxury hotel which bears the name of the current incumbent of the White House has decided that it no longer wants the connection - and is seeking to cut ties.

The Trump International Hotel and Tower, in Panama City, Panama, is attempting to distance itself from Donald Trump, despite his elevation to the most powerful political position on the planet.

A 70-storey structure with a 65th floor infinity swimming pool, an in-house casino and a prime location on the seafront in the Panamanian capital, the hotel has been marketed as a Trump property since 2005 - when it was initially branded as the Trump Ocean Club International Hotel and Tower.

It is thought that the hotel paid $32m (£24m) for its association with the businessman turned world leader.

The Trump International Hotel and Tower

The move would see the hotel remove all Trump branding - and lay off the hotel management company run by the president's family.

It comes with the property reportedly struggling with under-occupancy. Al Monstavicius, a retired Nevada doctor who says he bought a penthouse unit in the hotel "because I thought Trump's name made it a safe investment" has told the Chicago Tribune that his suite has had only 30 per cent occupancy in recent months.

Part of the business was sold in August - the hotel's restaurants and conference centre, as well as 202 attached condominiums, were bought by a Florida investment company, Ithaca Capital Partners.

Ithaca are believed to have proposed the sundering of links with the Trump name, and a relaunching of the property under a new identity.

However, talk of a divorce has been given short shrift by the holding company for Mr Trump's business operations.

"Not only do we have a valid, binding and enforceable long-term management agreement," a spokesperson for The Trump Organisation commented, "but any suggestion that the hotel is not performing up to expectations is belied by the actual facts."

The Panama City property is not the first hotel to attempt to distance itself from the US president.

Earlier this month, it was reported that the Trump SoHo hotel in New York will cease to wear the Trump name before the end of the year.

The five-star retreat in Lower Manhattan is changing hands - its management contract has been bought by CIM Group, a real estate investment company based in California.

CIM has paid an undisclosed sum to The Trump Organisation to end the association - and will be free to rebrand the building in December.

The Trump International Hotel and Tower in Toronto severed its own connection in June, and is now known as the Adelaide Hotel Toronto.

The Adelaide Hotel Toronto rebranded in June

While claims of falling guest numbers have dogged some Trump hotels since Mr Trump was elected as the 45th president of the United States last November, he may, perhaps, be relieved to see his name removed from the Trump International Hotel and Tower in Panama City.

Recent reports have shed light on one Alexandre Ventura Nogueira, a salesman of apartments at the property. Mr Nogueira has been charged with fraud, and has admitted that some of his investors have had links to the "Russian mafia".

There is no suggestion Mr Trump was aware of any criminal activity associated with the hotel.