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Trump leaves his main hotel in Washington

United States

Trump wants to remove his hotel in the US capital – so his name will probably disappear from Washington

The luxurious Trump International Hotel, a short distance from the White House in Washington, is up for sale. A group of investors in Florida wants to acquire former President Donald Trump’s flagship hotel.

Entrance to the Trump International Hotel in Washington. The luxury company is located in a building that once housed the capital’s main post office.

Mark Denali / AB

Elected President Donald Trump will return to Washington. He travels across the country again and keeps his followers happy with extra long speeches. But a Republican politician and businessman wants to eliminate his preferred retreat in the US capital.

On Tuesday, the US media unanimously announced that the Trump family family business was in “advanced negotiations” over the sale of the Trump International Hotel on Pennsylvania Avenue in Washington. CGI Merchant Group, a Miami-based Florida investment firm, is interested in the move. It is also said that investors want to pay more than $ 370 million.

Even for many millionaires like Donald Trump it is a lot of money. (Business magazine Forbes currently estimates the former president’s assets are worth $ 2.5 billion.)

The property is owned by the US government

In the four years from 2017 to 2021, the luxury activity is said to have recorded a net loss of $ 71 million, according to a recent report by the Committee of Delegates.

The group, which has a Democrat majority, approached business records because Trump only leased property in Washington’s main post office. The official owner is the US Government; The corresponding lease period is 60 years.

In return, the Trump organization pays more than a quarter of a million dollars a month in interest rates to GSA, the federal agency responsible. Trump also paid for the cost of converting the former office building into a luxury hotel out of his own pocket. The reorganization, which was officially completed shortly before the then-presidential candidate won in the fall of 2016, is said to cost about $ 200 million.

Name change possible

The new owner wants to break away from the politically charged name of “Trump.” Instead, the CGI business group is in talks with global operating hotel groups such as the Hilton. The GSA, appointed by President Joe Biden, will have the last word if the lease is changed.

If Trump really wants to manage the sale, he will lose his favorite place in Washington: table 72 in the big hotel lobby, which he continued to court during his tenure. Apparently he always ate there: a shrimp cocktail with a starter, a steak (well made) french fries with a main course and a slice of apple pie or a chocolate cake for dessert.