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URLhttps://www.bbc.com/news/business-59257319
Last Crawled2026-03-18 12:03:22 (24 days ago)
First Indexed2021-11-15 04:22:06 (4 years ago)
HTTP Status Code200
Meta TitleTrump Organization selling Washington hotel for $375m, reports say
Meta DescriptionThe historic building will reportedly be renamed the Waldorf Astoria and managed by the Hilton group.
Meta Canonicalnull
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15 November 2021 Getty Images The Trump Organization bought a 60-year lease on the building in 2012 The Trump Organization has reportedly reached a deal to sell its prized Washington hotel for $375m (£279m). Under the planned sale, the Trump International will be renamed the Waldorf Astoria and managed by the Hilton group, according to reports. Last month, a US congressional probe found the hotel lost more than $70m during Donald Trump's presidency. The former US president's company opened the hotel to the public in September 2016. The Trump Organization, which bought a 60-year lease on the building, had been looking for buyers for the 263-room hotel since 2019. The deal with Miami-based investment firm CGI Merchant Group is expected to be finalised in the first quarter of next year, sources told The Wall Street Journal and Bloomberg. The 120-year-old building stands less than a mile away from the White House on Pennsylvania Avenue. The Trump Organization won approval to redevelop the historic Old Post Office building in 2012. It opened as a hotel four years later, just weeks after Mr Trump accepted the Republican Party's nomination to run for president. Getty Images The hotel is on Pennsylvania Avenue and less than a mile from the White House During Mr Trump's term as president, the hotel became popular amongst Republicans visiting the city. More recently, a congressional investigation found that Mr Trump had "grossly exaggerated" the hotel's profits when he claimed it made $150m during his term. The congressional committee said the hotel had instead lost more than $70m while he was in office. The report also found Mr Trump seemed to have "concealed potential conflicts of interest" related to his ownership of the hotel and his roles as its lender and the guarantor of third-party loans. Documents showed that the hotel received $3.7m in payments from foreign governments - enough to cover 7,400 nights at the hotel on an average daily rate, according to the committee. The Trump Organization denied wrongdoing and called the report "misleading". The Trump Organization and CGI Merchant Group did not immediately respond to the BBC's requests for comment on the sale of the Trump International Hotel. You may also be interested in: Trump describes allegations he avoided taxes as "fake news"
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Last month, a US congressional probe found the hotel lost more than \$70m during Donald Trump's presidency. The former US president's company opened the hotel to the public in September 2016. The Trump Organization, which bought a 60-year lease on the building, had been looking for buyers for the 263-room hotel since 2019. The deal with Miami-based investment firm CGI Merchant Group is expected to be finalised in the first quarter of next year, sources told The Wall Street Journal and Bloomberg. The 120-year-old building stands less than a mile away from the White House on Pennsylvania Avenue. The Trump Organization won approval to redevelop the historic Old Post Office building in 2012. It opened as a hotel four years later, just weeks after Mr Trump accepted the Republican Party's nomination to run for president. ![Getty Images Exterior of Trump International Hotel](https://ichef.bbci.co.uk/news/480/cpsprodpb/DBD3/production/_121557265_gettyimages-1321344499.jpg.webp)Getty Images The hotel is on Pennsylvania Avenue and less than a mile from the White House During Mr Trump's term as president, the hotel became popular amongst Republicans visiting the city. But it also attracted controversy. In 2018, [religious leaders called for its liquor licence to be revoked](https://www.bbc.com/news/world-us-canada-44557186), claiming its owner was "not a person of good character". More recently, [a congressional investigation](https://www.bbc.com/news/world-us-canada-58851786) found that Mr Trump had "grossly exaggerated" the hotel's profits when he claimed it made \$150m during his term. The congressional committee said the hotel had instead lost more than \$70m while he was in office. The report also found Mr Trump seemed to have "concealed potential conflicts of interest" related to his ownership of the hotel and his roles as its lender and the guarantor of third-party loans. Documents showed that the hotel received \$3.7m in payments from foreign governments - enough to cover 7,400 nights at the hotel on an average daily rate, according to the committee. The Trump Organization denied wrongdoing and called the report "misleading". The Trump Organization and CGI Merchant Group did not immediately respond to the BBC's requests for comment on the sale of the Trump International Hotel. ![2px presentational grey line](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) ## You may also be interested in: Trump describes allegations he avoided taxes as "fake news" [Trump’s DC hotel lost \$70m during his presidency](https://www.bbc.com/news/world-us-canada-58851786) [Donald Trump's wealth takes tumble during presidency](https://www.bbc.com/news/business-56438914) [The billionaire eyeing a return to the White House](https://www.bbc.com/news/world-us-canada-35318432) [Hotels](https://www.bbc.com/news/topics/ck6eq16z77rt) [Donald Trump](https://www.bbc.com/news/topics/cp7r8vgl2lgt) [United States](https://www.bbc.com/news/topics/cx1m7zg01xyt) *** Related [Seaside hotel to undergo major refurbishment](https://www.bbc.com/news/articles/clyx71nr91yo) [Arson-hit hotel's future to be decided](https://www.bbc.com/news/articles/c5yq2xl22gzo) [Hotel restaurant income lower than hoped - council](https://www.bbc.com/news/articles/clyg1ze0xgwo) *** More from the BBC [8 mins ago ![Martin and Trump are sitting next to each other in a room with a fire place, a bust of a head and a glass vase. Martin's hands are up as he talks. ](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) Irish PM boxes clever as Trump doubles down on Starmer 'disappointment' BBC News NI political editor Enda McClafferty looks at how Micheál Martin fared against Donald Trump during their St Patrick's Day meeting. 8 mins ago](https://www.bbc.com/news/articles/c0k1k3r7dxko) [27 mins ago ![Juliana Stratton pictured at a campaign stop in Illinois on 17 March 2026](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) Juliana Stratton wins Illinois Democratic primary for US Senate The 60-year-old Democrat, backed by Governor JB Pritzker, pulled off a surprise victory after months of trailing in the polls. 27 mins ago](https://www.bbc.com/news/articles/cd9g9j3y2p0o) [42 mins ago ![A large fire burns at an oil depot in Iran at night. Flames and thick plumes of dark smoke tower over the outline of a small building.](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) Why did US and Israel attack Iran and how long could the war last? Conflict has spread across the Middle East since the US and Israel launched strikes on Iran on 28 February. 42 mins ago](https://www.bbc.com/news/articles/cx2dyz6p3weo) [1 hr ago ![A gold plaque on a building says Voice of America](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) US judge orders Trump administration to reopen Voice of America Some 85% of VOA staff were laid off by Trump who accused the international broadcaster of bias. 1 hr ago](https://www.bbc.com/news/articles/ce3g3j1y2ldo) [2 hrs ago ![US Senator Markwayne Mullin speaks in the Senate while seated behind a placard that says Sen Mullin.](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) Trump's homeland security pick Mullin faces senators' questions The Republican from Oklahoma will be questioned by the Senate Homeland Security and Governmental Affairs Committee on Wednesday. 2 hrs ago](https://www.bbc.com/news/articles/cq575gyjgy9o) *** - [Home](https://www.bbc.com/) - [News](https://www.bbc.com/news) - [Sport](https://www.bbc.com/sport) - [Business](https://www.bbc.com/business) - [Technology](https://www.bbc.com/technology) - [Health](https://www.bbc.com/health) - [Culture](https://www.bbc.com/culture) - [Arts](https://www.bbc.com/arts) - [Travel](https://www.bbc.com/travel) - [Earth](https://www.bbc.com/future-planet) - [Audio](https://www.bbc.com/audio) - [Video](https://www.bbc.com/video) - [Live](https://www.bbc.com/live) - [Weather](https://www.bbc.com/weather) - [BBC Shop](https://shop.bbc.com/) - [BritBox](https://www.britbox.com/?utm_source=bbc.com&utm_medium=referral&utm_campaign=footer) BBC in other languages ### The BBC is in multiple languages #### Read the BBC In your own language [Oduu Afaan Oromootiin](https://www.bbc.com/afaanoromoo) [Amharic ዜና በአማርኛ](https://www.bbc.com/amharic) [Arabic عربي](https://www.bbc.com/arabic) [Azeri AZƏRBAYCAN](https://www.bbc.com/azeri) [Bangla বাংলা](https://www.bbc.com/bengali) [Burmese မြန်မာ](https://www.bbc.com/burmese) [Chinese 中文网](https://www.bbc.com/zhongwen/simp) [Dari دری](https://www.bbc.com/dari) [French AFRIQUE](https://www.bbc.com/afrique) [Hausa HAUSA](https://www.bbc.com/hausa) [Hindi हिन्दी](https://www.bbc.com/hindi) [Gaelic NAIDHEACHDAN](https://www.bbc.com/naidheachdan) [Gujarati ગુજરાતીમાં સમાચાર](https://www.bbc.com/gujarati) [Igbo AKỤKỌ N’IGBO](https://www.bbc.com/igbo) [Indonesian INDONESIA](https://www.bbc.com/indonesia) [Japanese 日本語](https://www.bbc.com/japanese) [Kinyarwanda GAHUZA](https://www.bbc.com/gahuza) [Kirundi KIRUNDI](https://www.bbc.com/gahuza) [Korean 한국어](https://www.bbc.com/korean) [Kyrgyz Кыргыз](https://www.bbc.com/kyrgyz) [Marathi मराठी](https://www.bbc.com/marathi) [Nepali नेपाली](https://www.bbc.com/nepali) [Noticias para hispanoparlantes](https://www.bbc.com/mundo) [Pashto پښتو](https://www.bbc.com/pashto) [Persian فارسی](https://www.bbc.com/persian) [Pidgin](https://www.bbc.com/pidgin) [Polish PO POLSKU](https://www.bbc.com/polska) [Portuguese BRASIL](https://www.bbc.com/portuguese) [Punjabi ਪੰਜਾਬੀ ਖ਼ਬਰਾਂ](https://www.bbc.com/punjabi) [Russian НА РУССКОМ](https://www.bbc.com/russian) [Serbian NA SRPSKOM](https://www.bbc.com/serbian/lat) [Sinhala සිංහල](https://www.bbc.com/sinhala) [Somali SOMALI](https://www.bbc.com/somali) [Swahili HABARI KWA KISWAHILI](https://www.bbc.com/swahili) [Tamil தமிழில் செய்திகள்](https://www.bbc.com/tamil) [Telugu తెలుగు వార్తలు](https://www.bbc.com/telugu) [Thai ข่าวภาษาไทย](https://www.bbc.com/thai) [Tigrinya ዜና ብትግርኛ](https://www.bbc.com/tigrinya) [Turkish TÜRKÇE](https://www.bbc.com/turkce) [Ukrainian УКРАЇНСЬКA](https://www.bbc.com/ukrainian) [Urdu اردو](https://www.bbc.com/urdu) [Uzbek O'ZBEK](https://www.bbc.com/uzbek) [Vietnamese TIẾNG VIỆT](https://www.bbc.com/vietnamese) [Welsh NEWYDDION](https://www.bbc.com/cymrufyw) [Yoruba ÌRÒYÌN NÍ YORÙBÁ](https://www.bbc.com/yoruba) Follow BBC on: - [Terms of Use](https://www.bbc.com/pages/terms-of-use) - [Subscription Terms](https://www.bbc.com/pages/subscription-terms) - [About the BBC](https://www.bbc.co.uk/aboutthebbc) - [Privacy Policy](https://www.bbc.com/pages/privacy-policy) - [Cookies](https://www.bbc.com/usingthebbc/cookies/) - [Accessibility Help](https://www.bbc.co.uk/accessibility/) - [Contact the BBC](https://www.bbc.co.uk/contact) - [Advertise with us](https://advertising.bbcstudios.com/) - [Do not share or sell my info](https://www.bbc.com/usingthebbc/cookies/how-can-i-change-my-bbc-cookie-settings/) - [BBC.com Help & FAQs](https://help.bbc.com/hc/) - [Content Index](https://www.bbc.com/pages/content-index) - [Set Preferred Source](https://www.bbc.com/future/article/20260128-how-to-make-google-put-trusted-sources-up-top-when-you-search) Copyright 2026 BBC. 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Readable Markdown
15 November 2021 ![Getty Images Exterior of Trump International Hotel](https://ichef.bbci.co.uk/news/480/cpsprodpb/15A7F/production/_121530788_gettyimages-1235973205.jpg.webp)Getty Images The Trump Organization bought a 60-year lease on the building in 2012 **The Trump Organization has reportedly reached a deal to sell its prized Washington hotel for \$375m (£279m).** Under the planned sale, the Trump International will be renamed the Waldorf Astoria and managed by the Hilton group, according to reports. Last month, a US congressional probe found the hotel lost more than \$70m during Donald Trump's presidency. The former US president's company opened the hotel to the public in September 2016. The Trump Organization, which bought a 60-year lease on the building, had been looking for buyers for the 263-room hotel since 2019. The deal with Miami-based investment firm CGI Merchant Group is expected to be finalised in the first quarter of next year, sources told The Wall Street Journal and Bloomberg. The 120-year-old building stands less than a mile away from the White House on Pennsylvania Avenue. The Trump Organization won approval to redevelop the historic Old Post Office building in 2012. It opened as a hotel four years later, just weeks after Mr Trump accepted the Republican Party's nomination to run for president. ![Getty Images Exterior of Trump International Hotel](https://ichef.bbci.co.uk/news/480/cpsprodpb/DBD3/production/_121557265_gettyimages-1321344499.jpg.webp)Getty Images The hotel is on Pennsylvania Avenue and less than a mile from the White House During Mr Trump's term as president, the hotel became popular amongst Republicans visiting the city. More recently, [a congressional investigation](https://www.bbc.com/news/world-us-canada-58851786) found that Mr Trump had "grossly exaggerated" the hotel's profits when he claimed it made \$150m during his term. The congressional committee said the hotel had instead lost more than \$70m while he was in office. The report also found Mr Trump seemed to have "concealed potential conflicts of interest" related to his ownership of the hotel and his roles as its lender and the guarantor of third-party loans. Documents showed that the hotel received \$3.7m in payments from foreign governments - enough to cover 7,400 nights at the hotel on an average daily rate, according to the committee. The Trump Organization denied wrongdoing and called the report "misleading". The Trump Organization and CGI Merchant Group did not immediately respond to the BBC's requests for comment on the sale of the Trump International Hotel. ![2px presentational grey line](https://ichef.bbci.co.uk/images/ic/1024x1024/p0hq72jn.png.webp) You may also be interested in: Trump describes allegations he avoided taxes as "fake news"
Shard16 (laksa)
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