The Trump Organization is hoping to sell off the leasing rights to what has become its most studied property in the current administration: Trump’s Washington, D.C., hotel. And now that they’re courting potential buyers, the organization isn’t shying away from the controversy that the hotel has spurred.
In a 46-page investor pitch first reported on by CNN, the Trump Organization boasts that the hotel’s history of mixing business and government is actually an upside. The brochure for the hotel claims that there is “tremendous upside potential exists for a new owner to fully capitalize on government related business upon rebranding of the asset.”
The Wall Street Journal reported in October that the Trump Organization is hoping to get $200 million for the hotel. Technically, the Trumps would just be selling the leasing rights, which run for nearly a century and are held by the General Services Administration. The $200 million figure equals out to about $2 million per room key.
The Trump family has insisted that they’re not profiting from foreign deals and the brochure seems to try to back up that claim. It says that the hotel lost a whopping $9 million because they have turned away foreign business.
Trump hasn’t been shy about stopping in at the hotel. It’s not uncommon for him to go to dinner at the venue.
President Trump and the First Lady arriving at the Trump Hotel for dinner tonight pic.twitter.com/lWq1HzSlsu— Sara Cook (@saraecook) July 27, 2019
The brochure also boasts the possibility of Amazon boosting the business at the hotel. The company is moving a location to the Washington, D.C., area over the next several years.
The hotel, which is on Pennsylvania Avenue, only blocks from the White House, opened just before Trump was elected in 2016. Before it was the Trump International Hotel, it was a post office.
Last month, Eric Trump said that part of the reason that the Trump Organization is looking at selling their Washington property is that “people are objecting to us making so much money on the hotel.”
Of course, the Trump Hotel in D.C. has become a hotbed for foreign business. Within a month of Trump’s election, Saudi lobbyists paid for 500 rooms in the DC hotel. The Washington Post reported that the effort cost $270,000.