The Trump International Hotel, a gathering place for Donald Trump and his supporters, as well as a steady stream of protests during his years in the White House, has been officially sold and closed.
The investment group has reportedly paid $ 375 million and plans to convert it into Hilton Corp’s Waldorf Astoria brand.
“Proud to announce record sales for Trump DC,” Eric Trump, executive vice president of the Trump Organization, wrote on Twitter. “The transaction marks the highest price for a single key ever in Washington, DC, the highest price in US history for the rental of a single key and the largest sale for a historic hotel in more than 15 years. .
A few blocks from the White House, the hotel opened during the 2016 presidential election. The Trump organization leased the hotel to the federal government, converting the old post office building into a luxury hotel.
When Trump was elected, the hotel quickly became a gathering place for him and his supporters as reporters stood in the lobby, bar and restaurant to film the president. But the hotel has also become a source of litigation for Trump for violating a constitutional relief clause that prevents elected officials from accepting gifts from foreign governments. Public interest groups are questioning Trump’s decision to keep his property amid concerns that foreign governments were trying to curry favor with Trump by booking rooms on his property.
Earlier this month, District of Columbia Attorney General Carl Racine announced a deal that would require the Trump organization and President Trump’s inaugural committee to pay $ 750,000 to pay hotel taxes for the event space. , thus enriching the Trump family.
Last year, a House Oversight Committee released a report concluding that the hotel had raised about $ 3.7 million from foreign governments between 2017 and 2020, “raising concerns about possible violations of the clause.” foreign remuneration in the constitution. ”Democrats say the hotel sale generated $ 100 million in profits, while $ 76 million went to Trump.
A spokesperson for the new owner, CGI Merchant Group, did not immediately respond to a request for comment.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
