Trump makes $375M deal to sell his DC hotel: Reports

Sitting in one of the most heavily Democratic districts in the entire country, the Trump International Hotel opened in 2016 in the midst of Donald Trump’s first presidential campaign. About five years later, Trump is selling the rights to his famous Washington, D.C. property.

According to The Washington Times, the Trump Organization will finalize a $375 million deal sometime in 2022 to transfer the property to the Miami-based CGI Merchant Group.

Among the “most luxurious” in DC

The hotel is located in a stately government building on Pennsylvania Avenue near the White House, in the Old Post Office. The lease on the hotel lasts almost a century.

The new owners will remove Trump’s branding from the coveted property, the Wall Street Journal, the first outlet to report the news, said, citing “people familiar with the matter.” The new owners plan to have the property branded and managed by the Hilton’s Waldorf Astoria group.

Throughout Trump’s presidency, the luxurious hotel was a focus of the Democratic Party’s witch hunt, owing largely to its popularity with foreign dignitaries. Democrats are still investigating the hotel years later, which they say posed a conflict of interest for Trump.

The reality is likely much more prosaic: it’s a really nice hotel, with “some of the largest and most luxurious guest rooms in Washington,” the Washington Times notes.

The Trump Organization says they never marketed the property to foreign officials and that Trump gave the profits from foreign government visitors to the Treasury Department.

Trump’s empire gets a little smaller

Despite the Democratic Party’s accusations, the hotel was not profitable for Trump and saw losses of $74 million from 2016 to 2020, according to The New York Times. But Trump stands to profit from the sale, the outlet claimed.

Unlike Washington lifers like Joe Biden, who got rich through “public service,” Trump has reportedly gotten poorer since he entered the political arena with his remarkable campaign to “Make America Great Again” in 2016.

The 45th president remains banned on most social media platforms since leaving office in 2020 and is generally regarded as a pariah by America’s political and cultural establishment.

Although another piece of the Trump empire is departing Washington, Trump has expressed interest in taking back the White House in 2024.

It’s a scenario that is increasingly keeping Democrats up at night as Biden’s presidency crashes and burns.

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