Trump's DC hotel up for sale
Washington, D.C., may soon have a little less Trump.
The Trump Organization is reportedly looking to sell the rights to Trump International Hotel, an iconic property in the nation’s capital that opened months after the president took office. The move could combat criticism that the Trumps are violating ethics rules by profiting from the hotel, which is said to have raked in more than $80 million since 2016.
"People are objecting to us making so much money on the hotel,” Eric Trump said in a prepared statement. And, "therefore, we may be willing to sell.”
He added that unlike any other hotel, "we have imposed voluntary restrictions and have chosen not to market, nor solicit, foreign government business" during Trump's presidency. "Our father donates his entire salary to the United States government ... has made countless voluntary sacrifices, and while none of them are legally required, his commitment to turn away significant business during his time in office is undoubtedly a selfless act."
The president’s family business has hired JLL, a Fortune 500 real-estate firm, to find a buyer for the 263-room luxury hotel, which has been named a Forbes “Five-Star” spot and was awarded two TripAdvisor Travelers’ Choice Awards.
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A number of groups have expressed interest in the property, Eric Trump told the Wall Street Journal: “Since we opened our doors, we have received tremendous interest and as real-estate developers, we are always willing to explore our options."
The Trump Organization is looking for $500 million for the leasing rights, or about $2 million per room key, making it one of the highest-priced hotels in U.S. history. The 121-year-old building, now owned by the federal government, is the former Old Post Office.