Trump Organization making a second attempt to sell its Washington, DC hotel lease, The Washington Post reports

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The north entrance of the Trump International in Washington, DC.

  • The Trump Org. is trying to sell its DC hotel lease for a second time, according to The Washington Post.
  • The company first tried to unload the property in fall 2019 but took it off the market when COVID-19 hit.
  • The move comes as a New York investigation into Trump and his business heats up.
  • See more stories on Insider’s business page.

As investigations against the former president heat up, former President Donald Trump is taking another stab at selling the lease to his company’s Washington, DC hotel, The Washington Post reported.

For a second time, the Trump Organization has hired a broker to sell the Pennsylvania Avenue hotel, after the pandemic hindered the first effort in fall 2019. The company took the property off the market after COVID-19 hit.

The Trump Organization has hired real estate advisory firm Newmark Group to market the property, which the company leases from the General Services Administration, according to The Post.

The Trump Organization did not immediately respond to a request for comment. Newmark Group declined to comment.

When the company first tried to unload the lease, rooms were running almost half empty, The Post reported, and the property’s revenue last year fell by more than 60%. The hotel continued to face financial setbacks, including the pandemic’s impact on the luxury hospitality industry and ongoing damage to the former president’s brand following the 2020 election and January 6 insurrection.

The move comes one week after Manhattan District Attorney Cyrus Vance Jr. announced he was convening a grand jury as his office investigates whether the Trump Organization violated state law. The inquiry into Trump and his company’s finances is wide-ranging and has been underway for more than two years.

It’s not clear whether the DC hotel will play a role in Vance’s investigation or a related investigation being led by New York Attorney General Letitia James. According to The Post, the property has not been named in any public flings related to either case.

But The Wall Street Journal reported last week that Vance’s office is investigating a slew of properties, including the DC hotel named for the former president.

Trump acquired the property, which is located in the Old Post Office, before he was elected in 2016, but the hotel became a hotbed for controversy during his presidency as Trump continued to own his businesses, spurring allegations of conflicts of interest.

The Trump International Hotel was at the center of several lawsuits accusing Trump of violating the foreign-emoluments clause of the Constitution, which bars public officials from receiving gifts or cash from foreign or state governments without congressional approval.

According to financial disclosures, Trump made at least $40.8 million from the hotel in 2018.

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Trump’s DC hotel raised prices to keep QAnon conspiracy theorists from booking rooms, according to a leaked police memo

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Trump International Hotel Washington, D.C.

A leaked internal police memo said former President Donald Trump’s Washington DC hotel raised prices on March 4 to keep QAnon conspiracy theorists away.

“MPD’s Intelligence Division confirmed with Trump Hotel management that they raised their rates as a security tactic to prevent protestors from booking rooms at their hotel should anyone travel to D.C.,” said a Metropolitan Police Department’s intelligence briefing, which was obtained by The Daily Dot and The Guardian.

Dated February 8, the memo included a reference to an Insider story published the day prior. Forbes reported room rates at the hotel had been increased for March 3-4. QAnon theorists had predicted Trump would retake the White House with an inauguration on March 4.

The memo said officers were told by management at Trump’s hotel that they didn’t have “any credible information regarding an event actually taking place on that date.”

Officers also had checked hotel reservations in the DC area, noting that they weren’t “showing any noticeable increase in hotel reservations for this timeframe,” according to the memo.

About 250 GB of data from the MPD was leaked this month after a ransomware attack. The data included documents detailing “Operation Stormbreaker,” a plan by right-wing militia group Boogaloo Boois to incite violence in Washington.

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Trump made $1.6 billion while president, according to financial disclosures, but left office less wealthy than before

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Protesters demonstrate on the opening day for the Trump International Hotel and Tower in Vancouver on February 28, 2017.

  • Donald Trump made at least $1.6 billion during his single term as US president.
  • He could hae made as much as $1.79 billion, according to financial disclosures.
  • Much of the revenue came from Mar-a-Lago, his hotel in DC, and his American golf courses.
  • Visit the Business section of Insider for more stories.

Donald Trump may have donated his $400,000 salary as president, but that represented just one-tenth of a percent of the money he made while the world’s most powerful man.

During his four-year term in office, Trump reported making between $1.6 and $1.79 billion, with some $620 million coming from the Mar-a-Lago resort, his hotel in the nation’s capital, and three of his golf courses in the United States.

As Insider previously reported, despite making hundreds of millions of dollars each year, Trump paid just $750 in federal income taxes for his first year in office.

That’s according to a review of the former president’s financial disclosures by Citizens for Responsibility and Ethics in Washington, a liberal watchdog group that argued Trump’s salary donation “was merely a fig leaf to cover up four years of brazen corruption.”

CREW found that the pandemic caused revenue to crash at the Trump Hotel in Washington, DC – from $40 million in 2019 to $15 million the year after – but not at Mar-a-Lago, which the former president had branded the “Southern White House.”

Overall, however, Trump appears to be less wealthy today than when he took office. In fall 2020, Forbes said the ex-president was now the 352nd richest person in America – down from 275 the year before, reflecting a drop in net worth from $3.1 billion to $2.5 billion.

Struggling with debt, the former head of state deposited millions of dollars in 2020 campaign donations into the Trump Organization, according to a report by Forbs.

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