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Loss-making Trump International Hotel in Washington, DC sold

Loss-making Trump International Hotel in Washington, DC sold.
Loss-making Trump International Hotel in Washington, DC sold.
Written by Harry Johnson

Despite Trump’s false claim that it brought in around $150 million during his time in office, government documents show the property lost the former president more than $70 million.

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  • The Trump International Hotel is located in a century-old historic building in downtown Washington.
  • The historic building belongs to the US government but can be leased for up to 100 years.
  • Miami-based investment firm CGI Merchant Group plans to remove the Trump name from the property and brand it with Hilton’s Waldorf Astoria brand.

Miami-based investment firm CGI Merchant Group has bought the rights to the Trump International Hotel located in a century-old historic building in downtown Washington, D.C.

Trump International Hotel is located few blocks from the White House and occupies a historic building which belongs to the US government but can be leased for up to 100 years.

The hotel that has become popular with Trump supporters said to bring more losses than profit in recent years.

Despite Trump’s false claim that the hotel brought in around $150 million during his time in office, government documents show the property lost the former president more than $70 million.

An oversight committee of Congress also found that the hotel received around $3.7 million in payments from foreign governments, which could be viewed as a potential conflict of interest.

Still, the rights to the hotel will now bring in $375 million for Former US President Donald Trump’s company.

The buyer is Miami-based investment firm CGI Merchant Group, which plans to remove the Trump name from the property and have it managed and branded by Hilton’s Waldorf Astoria group.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for almost 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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