End of era in Washington: The family real estate company of former US President Donald Trump has agreed to sell the luxury hotel “Trump International” in Washington, D.C., the Wall Street Journal reported. The new owners will pay $ 375 million to get the lease, and they are expected to change the name of the hotel and remove from it the name of Trump starting in early 2022.
This is a hotel located on Pennsylvania Avenue, about 650 feet from the White House. The federal building was built in 1899 and first served as a post office, and in 2012 the federal government leased ownership to the Trump company – which turned the place into a luxury hotel. Trump opened the hotel in 2016, as part of his U.S. presidential election campaign, and throughout his years in the White House he has hosted officials and representatives from dozens of countries at the hotel.
Trump Hotel in Washington (Photo: Shatterstock)
In recent months the hotel has received widespread criticism from the US administration, due to the fear of conflicts of interest of the former president. The House of Representatives Committee has opened an investigation into how the hotel is run, on suspicion that Trump has violated a clause in the U.S. Constitution that states that government officials are not allowed to receive gifts or indirectly profit from their job. The real estate company denied the allegations and said they did not market the hotel to guests who came for state visits, claiming the money they received from Trump’s guests was transferred to the state treasury.
According to documents released as part of the commission’s investigation, the hotel lost $ 73 million from its opening in 2016 to the end of 2020. Committee members claimed that Trump “provided misleading information about the hotel’s financial condition in its annual financial statements” and that he “exaggerated the hotel’s financial soundness.” “. It was further stated that it must “inject at least $ 24 million to assist the struggling hotel” from a holding company owned by Trump himself.
Did you find a mistake in the article? Does the content in the article infringe your copyright? Encountered an inappropriate advertisement? Report to us