The Trump Organization finalized a $375 million deal to sell its lease of the Trump International Hotel in Washington, D.C., according to multiple reports, after the building served as a destination for both Trump supporters and anti-Trump protesters.
On June 3, 2020, demonstrators gather outside of the Trump International Hotel in Washington, D.C.
The 263-room hotel located in a federal building near the White House was sold to a Miami-based company.
The sale came after the hotel had failed for months, possibly because potential customers wanted to avoid the controversy surrounding former President Donald Trump, the Times reported.
The deal will net the Trump Organization $100 million, with $76 million going to Trump personally, after the company repays a loan that helped finance the building's $200 million renovation, according to a February letter from House Democrats.
The chair of the House Oversight Committee accused Trump of profiting from a sale that was conducted without adequate transparency.
The Old Post Office building in Washington was renovated into the Trump International Hotel. The hotel, which opened three months before Trump assumed the presidency, was condemned by critics as a grand but badly designed venue where Trump mixed his personal business with his presidential campaign. The hotel became a gathering place for both Trump supporters and anti-Trump demonstrators, and was where Rudy Giuliani planned the lobbying efforts that touched off Trump's second impeachment. The Trump Organization claimed that the revenue from foreign governments was much lower than the Democrats claimed. Democratic legislators pushed for Trump to give up his real estate assets as Trump supporters began patronizing the hotel. The General Services Administration declined to end Trump's lease because it was against the agreement.
"Goodbye to Trump's Easy-Access, President-Ingratiating, Emoluments-Busting Washington Hotel."
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