Trump Organization hunts for second DC hotel location: report

Presidents firm’s is considering expanding its Scion brand to the nation’s capital

TRD New York /
Mar.March 30, 2017 10:30 AM

Trump Hotels is exploring the possibility of opening up a second hotel in Washington D.C., and has seriously considered at least one potential location.

Trump’s company is weighing bringing the Scion brand to D.C., Bloomberg reported, citing sources. The Scion line of Trump Hotels is aimed at travelers seeking less expensive accommodation than what’s offered by the more famous brand. The company announced the brand last fall.

One of Trump’s investment partners was in talks to buy the Beacon Hotel and Corporate Quarters in D.C., a person familiar with the discussions told Bloomberg, but they couldn’t reach an agreement on the price. The seller of the hotel is asking around $65 million for the 199-room hotel, the source said. In recent months, representatives from the company have made inquiries about converting several hotels around downtown D.C., the Washington Post reported this week.

“We are exploring many markets as opportunities for our new Scion hotel brand,” Trump Hotels Chief Executive Officer Eric Danziger said in a statement to Bloomberg. He would not comment on individual locations. Unlike Trump International Hotels, which the president and his family own, Scion hotels would be owned by separate developers who pay for licensing rights and management.

Trump’s other hotel in the city, the Trump International Hotel on Pennsylvania Avenue, has attracted intense scrutiny over the conflicts of interest issues it presents.  The building itself is rented from the federal government, which put Trump on both sides of the lease.

Last week, the General Services Administration told the Trump Organization that the Trump International Hotel in D.C., is in “full compliance” with lease requirements stipulating that no government officials be involved with or benefit from the contract.

Ethics experts, however, had argued President Trump is overseeing a contract that is financially benefitting him while in office, even if he doesn’t have access to the money until his term is over. [Bloomberg] and [Washington Post]Miriam Hall


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo (Getty, iStock)

Commercial eviction and foreclosure ban extended until January

Commercial eviction and foreclosure ban extended until January
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
Travis Kalanick (Getty; iStock)

Travis Kalanick cooks up a real estate empire

Travis Kalanick cooks up a real estate empire
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
Subversive CEO Richard Acosta (Photos via ICSC; iStock)

Riding high: Inception, Subversive to launch publicly traded cannabis REIT

Riding high: Inception, Subversive to launch publicly traded cannabis REIT
Gov. Andrew Cuomo announced that movie theaters in some New York counties can reopen, but NYC’s theaters are excluded for now. (Getty; iStock)

Cuomo: Movie theaters can reopen — but not in NYC

Cuomo: Movie theaters can reopen — but not in NYC
Blackstone’s Stephen Schwarzman, Roku CEO Anthony Wood and Coleman Highline in San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

Blackstone buys Roku’s Silicon Valley office buildings

Blackstone buys Roku’s Silicon Valley office buildings
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...