In Four Months, Trump DC Hotel Made $2 Million in Profit

In Four Months, Trump DC Hotel Made $2 Million in Profit

But the hotel's $660.28 average nightly rate― far higher than the rate of comparable hotels in the area ― made it a lucrative property.

That probably makes it the most expensive hotel in the city, according to industry experts, as guests at competing luxury hotels such as the Hay-Adams, Four Seasons and Willard paid an average of $495 a night, according to data from STR. Quite the opposite. Based on financial records obtained by the Post and the Wall Street Journal, the Trump Organization was expecting a $2.1 million loss during the first 4 months of the year; instead it recorded about $18 million in revenue and made a $1.97 million profit.

Trump International Hotel, which sits blocks away from the White House, was expected to lose more than $2 million dollars in its first four months, according to the documents.

That said, the hotel still has a fairly low occupancy rate - 42.3% compared to about 70% in other DC hotels.

Concerns over politicians, foreign nationals, and lobbyists spending their money at Trump properties as a way to curry favor with the USA president is why CREW filed a lawsuit against President Trump alleging that he his involvement with his business empire while in office violates the Emoluments clause of the Constitution. Rep. Peter DeFazio (D., Ore.) called the arrangement "highly unethical".

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Remember when, before President Trump took office, questions and concerns abounded about his conflicts of interest-that, with business holdings around the world, he could potentially profit from the presidency? The federal government collects $3 million in annual rent from the Trump Organization for the hotel. It posted an occupancy rate of 42.3 percent, compared with almost 70 percent in the industry.

"We are very proud of the success of the project", the president's son Eric Trump, who took over the company with his brother Don Jr., said in an email.

The General Services Administration, the property's landlord, posted detailed information about the hotel's finances online on Thursday.

Situated between the White House and Capitol Hill, Trump International Hotel is located in the converted 119-year-old Old Post Office Pavilion, a historic Romanesque building and clock tower owned by the federal government.

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