Trump Hotel DC Has Profited Nearly $2 Million This Year

Trump Hotel DC Has Profited Nearly $2 Million This Year

Trump Hotel DC Has Profited Nearly $2 Million This Year

But the hotel raised its room rates after Trump took office, charging an average of $660.28 per night from January to April and resulting in a sizable profit.

The extravagant Washington, D.C., hotel bearing the name of President Donald Trump took home almost $2 million in profits this year, according to financial reports from its management company seen by multiple media outlets.

The Trump International Hotel in DC has brought in nearly $1.97 million in profit since the start of 2017, the Washington Post reported Friday.

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.

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According to The Post, Trump said he turned the hotel over to his sons but still retained ownership rights that allows him to, with time, still profit from the building.

That said, the hotel still has a fairly low occupancy rate - 42.3% compared to about 70% in other DC hotels. Before Donald Trump won the presidential election previous year, the Trump Organization estimated the hotel would lose money in 2017 as it invested in growing its start-up hotel and convention business.

Of his 202 days in office, Trump has spent 65 days at his properties, majority at his golf properties. As GQ and WaPo have both recently reported, Trump International has emerged as the hottest spot in town for conservative politicians, pundits, and donors exiled in a heavily democratic city to hang out and drink wine served in spoons. Because the gods apparently wanted to make the Trump family's potential conflicts abundantly clear this week, it was also reported yesterday that Ivanka's fashion brand-from which she has taken a leave of absence and put into a trust (held in part by her brother-in-law Josh Kushner, whom she can ask about it at her leisure)-will be opening its first stand-alone store at, you'll never guess, New York's Trump Tower.

Ivanka Trump, the president's daughter, led the development of the project as a Trump Organization executive before resigning to join the White House. The GSA owns the lease to the Old Post Office, the building which was later developed into the Trump International Hotel.

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