Trump’s DC hotel set to be sold and renamed Waldorf Astoria – Deadline
The Trump International Hotel in Washington, DC, which served as a gathering place for supporters of President Donald Trump during his tenure, is set to be sold and renamed Waldorf Astoria, according to a report by The Wall Street Journal.
The Trump Organization has reached a deal with CGI Merchant Group to sell the property, located in the Old Post Office building a few blocks from the White House, according to the Journal. The deal is for $ 375 million, less than the $ 500 million Trump’s company is said to have sought.
Spokesmen for the Trump Organization and CGI did not immediately return requests for comment. Waldorf Astoria is the luxury brand of Hilton hotels.
The hotel was a favorite haunt for members of the Trump administration and the president himself, to meet during his tenure, a safe haven in an otherwise heavily Democratic city. But he has also become a focal point of congressional prosecutions and inquiries that foreign dignitaries stay in his expensive rooms to gain favor with the administration. During Trump’s presidency, protesters often projected images on the side of the hotel as part of protests against the administration’s policies.
The Trump organization said it donated foreign government profits to the US Treasury. But the House Oversight and Reform Committee is investigating whether all of those profits have been disclosed to the General Services Administration, which oversees the rental of the property. The committee also investigated other potential conflicts of interest.
According to the findings of the House Oversight Committee, Trump’s hotel lost $ 70 million during his tenure. The hotel opened in 2016, just months before Trump was elected.