Trump Closes Chapter On D.C. Hotel As Property Is Sold To Investor Group

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 officially been sold and closed.

An investment group reportedly paid $375 million and plans to convert it into the Hilton Corp.’s Waldorf Astoria brand.

:Proud to announce the record-breaking sale of the Trump D.C.,” Eric Trump, who serves as executive vice president of the Trump Organization, wrote on Twitter. “The transaction marks the highest price per key ever achieved in Washington D.C., the highest price per key in U.S. history for a leasehold interest, and the largest sale of a historic hotel in over 15 years.”

Just blocks away from the White House, the hotel opened during the 2016 presidential election. The Trump Organization leased the hotel from the federal government, converting the former Old Post Office Building into a luxury hotel.

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When Trump was elected, the hotel quickly became a frequent gathering spot for him and his supporters, as reporters staked out the lobby, bar and restaurant to capture a glimpse of the president. But the hotel also became the source of lawsuits over claims that Trump was in violation of the Constitution’s emoluments clause, which prohibit elected officials from accepting gifts from foreign governments. Public interest groups challenged Trump’s decision to retain his holdings, amid concerns that foreign governments could try to win Trump’s favor by booking rooms at the property.

Earlier this month, District of Columbia Attorney General Karl Racine announced a settlement that requires that the Trump Organization and Trump’s Presidential Inaugural Committee pay $750,000 to resolve allegations that the hotel overcharged for event space, thus enriching the Trump family.

Last year, the House Oversight Committee made public a report concluding that the hotel collected an estimated $3.7 million from foreign governments from 2017 to 2020, “raising concerns about possible violations of the Constitution’s Foreign Emoluments Clause.” Democrats claim that the sale of the hotel stood to generate a $100 million profit, with $76 million going to Trump.

A spokesperson for the new owner, CGI Merchant Group, did not immediately respond to a request for comment.

 

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