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Donald Trump is about to lose what was the crown of his hotel portfolio. The hotel company owned by the former president has come to an agreement To be sold for $ 375 million The newspaper says the relocation of his affluent hotel in Washington is five blocks from the White House and close to the Capitol. The Wall Street Journal. US Property Manager CGI Merchant Group retains property management rights MagazineHilton has already entered into an agreement with Worldwide Holdings to rename and manage Waldorf Astoria Rubrick.
The luxury hotel, conveniently located on the edge of the National Mall, opened just before 2016. Trump was elected president. It occupies a 122-year-old building that was once a post office. The building is owned by the federal government but the lease can be extended for 100 years. In 2013, the Trump organization took over property in a very close competition for 60 years, in which the most famous names in the business were involved with powerful banking funds, as was the case with Marriott International.
Located on Strategic Pennsylvania Avenue, Hotel opening, Almost when Trump went to the White House, he turned the luxurious, hypocritical Romanus fake estate into the favorite hangout of any Trump Republican who prides himself on being one. Major merchants passed through its 263 luxury rooms. Campaigners changed the venues of the Ritz or Four Seasons for Trump Hall. In luxurious gold chairs There were people who walked through the halls in the hope that the economic deals were fake and that they would meet a Trump adviser – many of whom came to the place frequently – or, better yet, one of his children, thus finding a way to the Oval Office.
In those days, the hotel became one of the Trump family’s largest sources of income and one of the few companies to receive a significant increase in revenue since Trump came to the White House. Trump has met with him dozens of times since taking office.
The Magazine The hotel has made a profit of $ 150 million in four years, according to figures provided during Trump’s presidency. The most recent data refers to all of 2020 and the first weeks of this year, with revenue falling to $ 15 million compared to 40 earned in 2019.
Since the fall of 2019, there have been speculations about the launch of the luxury hotel, which, with interest, coincides with the fact that Trump has backed down. His claim to celebrate the G7 summit That year at his National Doral Golf and Hotel campus near Miami (Florida). At all times, the White House declared that it did not receive benefits for entertaining dignitaries on its premises. In their rooms slept the President of Romania, Claus Iohanis; Trump’s former spokesman Anthony Scaramucci or Treasury Secretary Steve Munuchin stayed at the hotel for six months.
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The hotel’s license has been sold as several committees of the Democratic majority House of Representatives are investigating possible discrepancies in the interest and fees Trump received. The report of one of those commissions estimates that the hotel would have recorded losses of more than $ 70 million between the opening of the hotel and the end of 2020, the Trump administration has denied.
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