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US News Donald Trump sells its hotel in Washington

10:30  29 november  2021
10:30  29 november  2021 Source:   parismatch.com

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The Trump Organization has reportedly reached a deal to sell its prized Washington hotel for 5m (£279m). Under the planned sale, the Trump International will be renamed the Waldorf Astoria and managed by the Hilton group, according to reports. Last month, a US congressional probe found the hotel lost more than m during Donald Trump 's presidency. The former US president's company opened the hotel to the public in September 2016. The Trump Organization, which bought a 60-year lease on the building, had been looking for buyers for the 263-room hotel since 2019.

Former President Donald Trump 's family real estate company is selling the rights to its luxury hotel in Washington , DC, for 5 million, according to a Wall Street Journal report published Sunday. The lease for the Trump International Hotel will be acquired by the CGI Merchant Group, an investment The committee said Trump had "provided misleading information about the financial situation of the Trump Hotel in his annual financial disclosures" and that he "grossly exaggerated the financial health of the Trump Hotel ." It also said he had to "inject at least million to aid the struggling hotel " from

The Trump International Hotel, established in a nineteenth century neo-novel style building, will close its doors in Washington.

  Donald Trump vend son hôtel à Washington © Reuters / Erin Scott / File Photo

A round of twelve floors, within a few comforters of the White House: Donald Trump is preparing to give up his Washington hotel, where formerly grouped lobbyists, donors and foreign governments, all loans to spend a lot in the hope of gaining a little influence with the president.

The Trump International Hotel, established in a nineteenth century building of neo-novel style, will close its doors. Built in the 1890s, the 12-storey building, an old post office, is the third highest of the US capital.

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The Trump International Hotel in Washington . Former president Donald Trump ’s real estate company plans to sell the federal lease to its luxury D.C. hotel to Miami-based CGI Merchant Group, according to a report Sunday in the Wall Street Journal. The Trump Organization, which leased the Old Post Office property beginning in 2013, has been in discussions with CGI Merchant about selling the lease, according to two people who spoke to The Washington Post on the condition of anonymity because of the private nature of the discussions.

Donald Trump ’s family-run company reached a deal to sell the rights to its Washington , D.C. hotel for 5 million, after which the property will be branded as Waldorf Astoria, according to people familiar with the matter. A Miami-based investment firm, CGI Merchant Group, is in contract to acquire the The buyer plans to remove the Trump name and reached a deal with Hilton Worldwide Holdings Inc. to convert the property to a Waldorf Astoria managed by Hilton. The Wall Street Journal reported the agreement earlier Sunday. Trump International Hotel in Washington , DC, on Friday, September 17

condemned several times to demolition, the building was saved in 2011 when Donald Trump is committed to investing $ 200 million in renovation. The hotel opened in the fall of 2016, a few months before Donald Trump does not enter the White House.

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a huge skylight illuminates the bar where are sipping wine glasses at $ 140 served in Hungarian crystal, before one night in the Franklin Suite, $ 12,000, breakfast included .

"This is a very proud place," said Sean Spicer, Donald Trump's spokesman at his first press conference at the White House, in January 2017. "I think it is representative of the type of administration that he will lead ".

During his presidency, 150 officials from 77 foreign countries went to the properties of Republican billionaire

by accessing the presidency, Donald Trump entrusted the control of his Empire real estate to his two seniors sons, promising not to interfere with the activity of its properties. In fact, it promoted it at every possible opportunity and the Trump International Hotel has retained from its influence. During his presidency, 150 leaders of 77 foreign countries went to the properties of Republican billionaire, according to the Crew Anti-Corruption NGO.

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The Trump Organization has reportedly reached a deal to sell its prized Washington hotel for 5m (£279m). Under the planned sale, the Trump International will be renamed the Waldorf Astoria and managed by the Hilton group, according to reports. Last month, a US congressional probe found the hotel lost more than m during Donald Trump 's The Trump Organization has reached a deal to sell its Washington hotel lease for 5 million to CGI Merchant Group, which plans to remove ex-president Donald Trump 's name from the luxury property's facade, US media reported Sunday.

Former President Donald Trump 's family hotel company has reached a deal to sell the rights to its Washington , D.C., hotel for 5 million.

US political groups spent a total of $ 3 million to arrange about forty events in the Hotel de Pennsylvania Avenue.

and according to the NGO, groups of influence as the American Petroleum Institute has repeatedly organized events in the hotel after meetings at the White House. And many have achieved advantageous political benefits.

ELU on the promise to "Cure the Marigot" of Washington, "Donald Trump should never have been allowed to keep his hotel", denounces the president of Crew, Noah Bookbinder.

Asked about mixing his presidential prerogatives with the promotion of his sprawling real estate empire, Donald Trump defended in 2016: "The right is completely on my side, the presidents can not have any conflict of interest".

A very low occupancy rate

The survival of the Trump International Hotel has been short-lived. A parliamentary inquiry revealed that the hotel had lost more than $ 70 million under the Trump Presidency, considering that it had "grossly exaggerated" its profits. The Trump Organization has described the report of "intentionally misleading, irresponsible and false unequivocally" and called it as "political harassment".

The group did not respond to the stresses of AFP. But several US media have reported a very low occupancy rate, particularly because of the pandemic.

The Trump Organization then sold the lease of the building for an amount announced $ 375 million to an investment fund, which plans to reopen the hotel in the first months of 2022 under the name Waldorf Astoria.

It did not appease the critics. "Selling it now, while it is no longer in power, that the footstees have fallen," the president of Crew, "it's too little, too late".

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