Trump will sell his DC hotel to Hilton after losing millions in profits
3 years, 1 month ago

Trump will sell his DC hotel to Hilton after losing millions in profits

Raw Story  

Former President Donald Trump has a $170 million bank loan coming due in 2024 from Deutsche Bank for his Washington, D.C. property. While the Wall Street Journal reported that the hotel generated $150 million in revenue over the four years of Trump's presidency, it doesn't appear that revenue was enough to cover the operations and interest payments on the Deutsche Bank loan. The next year, things improved, but the Trumps still only squeezed out $900,000 of operating profits on $52.3 million in revenue, and they lost money after paying interest on their debt. A report Washington Post reporter David Fahrenthold last week revealed that the D.C. hotel isn't Trump's only problem.

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History of this topic

Trump overcharged Secret Service 300% for staying at his D.C. hotel: report
2 months, 3 weeks ago

Trump overcharged Secret Service 300% for staying at his D.C. hotel: report

Raw Story  

Democrats on the House Oversight Committee released the second part of their report about Donald Trump's use of his Washington, D.C., hotel while in office. Part two, released on Friday, says that the Trump Corporation increased the price of hotel rooms on the property by as much as 300% if they were booked by Secret Service agents. Read Also: Trump’s …

Trump's 'money-losing' DC hotel continued to cost him millions even after he sold: report
3 months, 4 weeks ago

Trump's 'money-losing' DC hotel continued to cost him millions even after he sold: report

Raw Story  

Donald Trump opened his Washington, D.C. hotel weeks before the 2016 election and it quickly became a gathering place for Republicans, lobbyists and foreign leaders visiting the president. The "money-losing" hotel was sold in 2022 for a hefty $127 million, but it required Trump to issue a loan to the new owners. Read Also: Trump’s former D.C. hotel — once …

Trump lost millions on his former DC hotel years after he sold it, Forbes reports
4 months ago

Trump lost millions on his former DC hotel years after he sold it, Forbes reports

Salon  

Despite selling his hotel in Washington, DC, for $375 million in 2022, former President Donald Trump ended up losing millions of dollars on the property years after he sold it, according to a report this week from Forbes. Being in the Trump hotel’s lobby is a way to get people to know you,” a former Trump campaign adviser told Time …

Foreign govts paid Trump firms millions while president: report
1 year ago

Foreign govts paid Trump firms millions while president: report

The Hindu  

Former U.S. President Donald Trump's businesses received at least $7.8 million from foreign governments including China during his time in the White House, a congressional report claimed on Thursday. "As President, Donald Trump accepted more than $7.8 million in payments from foreign states and their leaders, including some of the world's most unsavory regimes," said the report titled "White House …

Trump's old D.C. hotel taken over by Dems wanting to 'stick it' to ex-president: report
1 year ago

Trump's old D.C. hotel taken over by Dems wanting to 'stick it' to ex-president: report

Raw Story  

Democrats are throwing fundraisers and other events at a Washington, D.C. hotel formerly owned by Donald Trump as a way to “stick it” to the ex-president, Politico reported. They’ve popped in for morning coffees and after-work drinks at the hotel bar — where TVs are no longer all tuned into Fox News.” “The expression that a couple of people used …

Trump’s former D.C. hotel — once a monument to MAGA — has forgotten its namesake
1 year, 9 months ago

Trump’s former D.C. hotel — once a monument to MAGA — has forgotten its namesake

Raw Story  

WASHINGTON – During Donald Trump’s one-term presidency, his namesake hotel, five blocks down Pennsylvania Avenue from the White House, endlessly hummed with political wheeling and personal dealing. “Loser.” As Trump sits in Manhattan’s Trump Tower, preparing for a short drive to the courthouse and a million camera clicks, the few dozen people sprinkled about barely pay notice to any of …

Saudis and other nations went on $700,000 spending spree at Trump's DC hotel: documents
2 years, 1 month ago

Saudis and other nations went on $700,000 spending spree at Trump's DC hotel: documents

Raw Story  

The governments of Saudi Arabia and other Middle Eastern nations spent hundreds of thousands of dollars at former President Donald Trump's former hotel in Washington D.C. even as they lobbied his administration for favors. According to CNN, the governments of six countries, including Saudi Arabia, Qatar and the United Arab Emirates, spent more than $700,000 at Trump's D.C. hotel during …

Trump hotel in Washington, owned by former US President Donald Trump, sold for $375 million
2 years, 7 months ago

Trump hotel in Washington, owned by former US President Donald Trump, sold for $375 million

India Today  

The Trump Organisation has said that it completed the $375 million sale of the lease on the Trump International Hotel in Washington, D.C. to an investment firm that plans to rebrand the property as the Waldorf Astoria. The business owned by the family of former President Donald Trump bought the rights in 2013 to the hotel, housed inside the historic …

Trump’s DC hotel is officially out of business: report
2 years, 7 months ago

Trump’s DC hotel is officially out of business: report

Raw Story  

Yet another Donald Trump business venture has come to an end. "The Trump International Hotel in Washington is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria," The New York Times reported Wednesday. "The sale formally ended the Trump family’s business …

Last Call At Trump's Monument To Corruption
2 years, 8 months ago

Last Call At Trump's Monument To Corruption

Huff Post  

LOADING ERROR LOADING WASHINGTON – Fifteen months after Donald Trump left town, the crown jewel of his unprecedented and out-in-the-open corruption schemes as president is disappearing as well, with his namesake hotel closing down and changing hands. Trump International Hotel, just down the street from the White House, was for four years the place where both domestic and foreign lobbyists …

Trump DC hotel gets OK to sell to Miami investment fund
2 years, 9 months ago

Trump DC hotel gets OK to sell to Miami investment fund

Associated Press  

NEW YORK — Donald Trump’s luxury hotel near the White House, which drew diplomats, lobbyists and plenty of controversy while he was president, received government approval Friday to hand the keys to a Miami investment fund, a last hurdle to a sale that many industry experts doubted would ever go through. The federal government agency overseeing the building said an …

Reports: Trump selling DC hotel to investment firm for $375M
3 years, 1 month ago

Reports: Trump selling DC hotel to investment firm for $375M

Associated Press  

WASHINGTON — Donald Trump’s opulent hotel near the White House that drew lobbyists and diplomats seeking favor with the ex-president as well as criticism as a symbol of his ethics conflicts is being sold to a Miami investment group, according to published reports citing anonymous sources. CGI Merchant Group agreed to pay the Trump Organization $375 million for the rights …

Trump Organization sells Washington, DC hotel, name to be changed
3 years, 1 month ago

Trump Organization sells Washington, DC hotel, name to be changed

Al Jazeera  

The Trump Organization has struck a deal to sell the lease on its Washington, DC hotel, with the new owners rebranding it as Waldorf Astoria, sources tell Bloomberg News. Donald Trump’s family-run company reached a deal to sell the rights to its Washington, D.C. hotel for $375 million, after which the property will be branded as Waldorf Astoria, according to …

Trump hotel lost $70M despite millions in foreign business
3 years, 3 months ago

Trump hotel lost $70M despite millions in foreign business

Associated Press  

NEW YORK — Former President Donald Trump’s company lost more than $70 million on his Washington, D.C., hotel during his four years in office despite taking in millions from foreign governments, according to documents released Friday by a congressional committee investigating his business. The documents from the committee, the first public disclosure of audited financial statements from the hotel, show …

Trump's DC hotel lost $70 million over four years
3 years, 3 months ago

Trump's DC hotel lost $70 million over four years

Daily Mail  

President Donald Trump lost more than $73 million on his luxury D.C. hotel even while claiming multi-million profits on his disclosure forms, the House Oversight Panel says after reviewing government documents. Trump's luxury hotel in Washington, D.C. lost more than $73 million over the four years he was in office, rather than raking in millions as public financial disclosures claim, …

Bombshell report on Trump’s DC hotel finds he exaggerated income, accepted foreign payments and concealed debt
3 years, 3 months ago

Bombshell report on Trump’s DC hotel finds he exaggerated income, accepted foreign payments and concealed debt

Raw Story  

Former president Donald Trump reported that his downtown Washington hotel brought in $150 million in income while he served in the White House, but the hotel actually incurred more than $70 million in losses, according to a new report from the House Committee on Oversight and Reform. "By filing these misleading public disclosures, President Trump grossly exaggerated the financial health …

Trump in talks to sell rights to DC hotel amid speculation over 2024 plans
3 years, 4 months ago

Trump in talks to sell rights to DC hotel amid speculation over 2024 plans

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. The building on DC’s Pennsylvania Avenue, with Trump’s …

Trump family close to unloading controversial D.C. hotel after dropping the price: report
3 years, 4 months ago

Trump family close to unloading controversial D.C. hotel after dropping the price: report

Raw Story  

According to a report from Axios, Donald Trump and his family are close to selling off the lease to the controversial Trump International Hotel in Washington D.C. that was once a hot spot for fans of the president as well as lobbyists looking for contacts with the previous administration. The hotel, housed in the historic Old Post Office building, fell …

Trump's money losing' DC hotel may not survive the pandemic and as bills come due: report
3 years, 10 months ago

Trump's money losing' DC hotel may not survive the pandemic and as bills come due: report

Raw Story  

Slate business reporter Zach Everson explained that former President Donald Trump's Washington, D.C. hotel might not be able to hold on for much longer. "Once, pictures from the hotel lobby showed Trump Cabinet members, foreign leaders, compliant GOP lawmakers, CEOs, lobbyists, Hill staffers, and the MAGA faithful," wrote Everson. The chance for success was questionable, to begin with, as Trump …

Trump International Hotel DC sale on 'indefinite hold' as bids low
4 years, 1 month ago

Trump International Hotel DC sale on 'indefinite hold' as bids low

Daily Mail  

The Trump Organization has reportedly pressed pause on plans to sell the Trump International Hotel Washington DC because no one has shown interest in paying anywhere near the $500million asking price. The Trump Organization has reportedly pressed pause on plans to sell the Trump International Hotel Washington DC because no one has shown interest in paying anywhere near the $500million …

Trump Organization weighs selling rights to Washington hotel
5 years, 2 months ago

Trump Organization weighs selling rights to Washington hotel

Al Jazeera  

The move stems in part from criticisms from ethics watchdogs and legislators over the family’s profits from the hotel. The Trump Organization on Friday said it was exploring a sale of the rights to its Washington hotel, a property at the centre of litigation over allegations that President Donald Trump violated anti-corruption provisions of the US Constitution. “People are objecting …

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