Trump Organization might sell its controversial Washington D.C. hotel

Company’s continued ownership of hotel has led to strong criticism since Donald Trump became president

National /
Oct.October 25, 2019 03:20 PM
Trump International Hotel in Washington D.C. and President Donald Trump (Credit: Getty Images, iStock)

Trump International Hotel in Washington D.C. and President Donald Trump (Credit: Getty Images, iStock)

The Trump Organization may sell its Trump International Hotel in Washington D.C., following years of criticism that the family is disregarding ethics laws by continuing to profit from it during Donald Trump’s presidency.

The company has hired JLL to market the hotel and is party looking to sell it because of the ethics criticism the family has faced, Eric Trump told the Wall Street Journal. Several groups have said they are interested in buying it, he told the publication. They hope to sell it for more than $500 million, which would make it one of the priciest hotel deals ever.

The building is 121 years old and located in the former Old Post Office near the National Mall. The federal government owns the building but leases it to the Trump Organization through the General Services Administration. The agreement with the GSA allows Trump to sell his interest in the Old Post Office lease as early as October 26, 2019, said attorney Susan Simpson.

Donald Trump famously did not sell his businesses after winning the presidency and has frequently visited and talked up the hotel since his election. Revenue increased by roughly $400,000 to hit $40.8 million last year, while revenue at several of his other properties dropped.

“Since we opened our doors, we have received tremendous interest in this hotel, and as real-estate developers, we are always willing to explore our options,” Eric Trump said in a statement. “People are objecting to us making so much money on the hotel, and therefore we may be willing to sell.” [WSJ] – Eddie Small


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Howard Lutnick and Newmark CEO Barry Gosin withTrump International Hotel in Washington, D.C. (Getty, Trump Hotels)
Trump Org taps Newmark to sell DC hotel
Trump Org taps Newmark to sell DC hotel
Images of the Gateway Program and Pete Buttigieg (Photos via GDC, Getty, iStock)
Gateway tunnel lurches ahead with federal approval
Gateway tunnel lurches ahead with federal approval
Manhattan District Attorney Cy Vance and Donald Trump (Getty)
Manhattan DA convenes grand jury in Trump probe
Manhattan DA convenes grand jury in Trump probe
Donald Trump, New York Attorney General Letitia James, Manhattan District Attorney Cy Vance (Getty)
Tish James joins Cy Vance’s criminal probe of Trump Org
Tish James joins Cy Vance’s criminal probe of Trump Org
Clockwise from top left: Allen Weisselberg, Columbia Grammar & Preparatory School, Donald Trump (Getty, Google Maps, iStock)
DA targets tuition paid for Trump CFO’s grandkids
DA targets tuition paid for Trump CFO’s grandkids
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
More Trumps buy in South Florida: Eric, Lara paid $3M for Jupiter home
arrow_forward_ios

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

Loading...