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URLhttps://www.cbc.ca/news/world/dc-trump-hotel-1.6450640
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Meta TitleTrump Hotel in D.C. officially gone, but Democrats don't want it entirely forgotten | CBC News
Meta DescriptionThe lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and corruption to his critics, has been sold by his family company to a Miami-based investor fund.
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World The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and corruption to his critics, has been sold by his family company to a Miami-based investor fund. Ethics critics say hotel was rife with potential conflicts of interest Listen to this article Estimated 4 minutes The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. Workers remove the signage for the Trump International Hotel on Wednesday night. The lease to the Washington, D.C., hotel, run by Donald Trump's family company while he was president, has been sold to a Miami-based investor fund. (Gemunu Amarasinghe/The Associated Press) The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and of corruption to his critics, has been sold by his family company to a Miami-based investor fund. The Trump Organization said Wednesday that it had completed the sale of a long-term lease of the Trump International Hotel to CGI Merchant Group of Miami for what it described as a record price per room for the city. Sources close to the deal, demanding anonymity to discuss the private transaction, have said that the price was $375 million US, handing the Trump family business perhaps as much as $100 million in profit. The new owners planned to remove the Trump name from the facade and rebrand the hotel a Waldorf Astoria. Workers were seen removing signage from the hotel Wednesday night. The Associated Press reported earlier this year that the group of investors includes former Yankee slugger Alex Rodriguez. Selling price defied expectations Many hotel brokers, owners and consultants did not expect the 263-room hotel down the street from the White House to fetch such a high price. The hotel lost more than $70 million during the four years of Trump's presidency, including in each year before pandemic shutdowns. The former Trump International Hotel at the Old Post Office Building in Washington is seen Thursday from a distance. Democrats are questioning a per-room sale price that seems above local rates, despite the hotel's recent money-losing history. (Kevin Dietsch/Getty Images) The former president's son, Eric Trump, said on Wednesday the Trump Organization took a "dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world." He hailed the "the largest sale of a historic hotel in over 15 years." Democrats in Congress are questioning the transaction, which works out to more than $1.4 million a room. Carolyn Maloney, the chair of the House committee on oversight, characterized it Wednesday as "the latest in a long line of questionable deals, conflicts of interestĀ and constitutional violations involving former president Trump and his Washington, D.C. hotel." "The former president will personally receive tens of millions of dollars in profits from selling his lease at a significant premium over market rates, yet the American public still does not know whose money is paying for this deal," said Maloney. The Trump hotel in Washington, D.C., has always presented a clear conflict of interest. This sale ends an era of corruption. I’m now working on legislation which will ensure no future <a href="https://twitter.com/hashtag/POTUS?src=hash&amp;ref_src=twsrc%5Etfw">#POTUS</a> can benefit from this sort of arrangement. <a href="https://t.co/5kvUZAYYFY">https://t.co/5kvUZAYYFY</a> &mdash; @repdinatitus The committee earlier this month requested documents from CGI listing all of its investors. Democrats also want to ensure there are stricter, enforced laws regarding the business holdings of an incoming president. Trump, D.C. just settled case related to hotel The hotel was a magnet for lobbyists, diplomats and others seeking to curry favour with the president. Democrats said it sullied the reputation of the presidency, pitted his financial interest against public interest and possibly broke the law. Several lawsuits challenging his ownership of the lease were unsuccessful. Citizens for Responsibility and Ethics in Washington, a watchdog group, said Thursday the "Trump Hotel will live on as a black eye on government ethics." Good riddance. <a href="https://t.co/Fa8OtYv7kY">https://t.co/Fa8OtYv7kY</a> &mdash; @AGKarlRacine The controversies started from the beginning of his presidency. The D.C. Attorney General alleged in a lawsuit that the Trump presidential inaugural committee overpaid for events at the hotel and enriched the former president's family in the process. The committee raised an unprecedented $107 million to host events celebrating Trump's inauguration in January 2017. Trump accused of misleading financial reports for his D.C. hotel while president U.S. judge denies Trump bid to end contempt order, keeps in place $10K daily fine Last week, Attorney General Karl Racine announced a settlement in that suit had been reached that would see the Trump Organization and the committee pay $750,000. Hours later, Trump blasted Racine and noted that the settlement includes no admission of guilt or liability. The hotel is the former Old Post Office building, and it's still formally owned by the federal government. The Trump Organization won rights to fix up the building and run it as a hotel in exchange for paying the government annual rent and a cut of profit upon a sale. With files from CBC News
Markdown
![](https://www.cbc.ca/a/assets/nojsimg.gif) [Content](https://www.cbc.ca/news/world/dc-trump-hotel-1.6450640#content) [Skip to Main Content](https://www.cbc.ca/news/world/dc-trump-hotel-1.6450640#content)[Accessibility Help](https://cbchelp.cbc.ca/hc/en-ca/categories/31606111569053-Accessibility) [Menu](https://www.cbc.ca/sitemap) [Search](https://www.cbc.ca/search) Sign In ##### Quick Links - [News](https://www.cbc.ca/news) - [Sports](https://www.cbc.ca/sports) - [Radio](https://www.cbc.ca/radio) - [Music](https://www.cbc.ca/music) - [Listen Live](https://www.cbc.ca/listen/live-radio) - [TV](https://www.cbc.ca/television) - [Watch](https://gem.cbc.ca/) - [news](https://www.cbc.ca/news) - [Top Stories](https://www.cbc.ca/news) - [Local](https://www.cbc.ca/news/local) - [Climate](https://www.cbc.ca/news/climate) - [World](https://www.cbc.ca/news/world) - [Canada](https://www.cbc.ca/news/canada) - [Politics](https://www.cbc.ca/news/politics) - [Indigenous](https://www.cbc.ca/news/indigenous) - [Business](https://www.cbc.ca/news/business) - [The National](https://www.cbc.ca/news/thenational) - [Health](https://www.cbc.ca/news/health) - [Entertainment](https://www.cbc.ca/news/entertainment) - [Science](https://www.cbc.ca/news/science) - [CBC News Investigates](https://www.cbc.ca/news/investigates) - [Disability Life](https://www.cbc.ca/news/disabilitylife) - [Go Public](https://www.cbc.ca/news/gopublic) - [About CBC News](https://www.cbc.ca/news/about-cbc-news-1.1294364) - [Being Black in Canada](https://www.cbc.ca/news/canada/beingblackincanada) - More Trump Hotel in D.C. officially gone, but Democrats don't want it entirely forgotten \| CBC News Loaded [World](https://www.cbc.ca/news/world) # Trump Hotel in D.C. officially gone, but Democrats don't want it entirely forgotten The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and corruption to his critics, has been sold by his family company to a Miami-based investor fund. ## Ethics critics say hotel was rife with potential conflicts of interest The Associated Press Ā· Posted: May 12, 2022 12:40 PM EDT \| Last Updated: May 14, 2022 ![Text to Speech Icon](https://www.cbc.ca/a/assets/texttospeech.svg) Listen to this article Estimated 4 minutes The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. ![](https://i.cbc.ca/ais/1.6450686,1652372190000/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C228%2C4275%2C2404%29%3B) Workers remove the signage for the Trump International Hotel on Wednesday night. The lease to the Washington, D.C., hotel, run by Donald Trump's family company while he was president, has been sold to a Miami-based investor fund. (Gemunu Amarasinghe/The Associated Press) ## Social Sharing The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and of corruption to his critics, has been sold by his family company to a Miami-based investor fund. The Trump Organization said Wednesday that it had completed the sale of a long-term lease of the Trump International Hotel to CGI Merchant Group of Miami for what it described as a record price per room for the city. Sources close to the deal, demanding anonymity to discuss the private transaction, have said that the price was \$375 million US, handing the Trump family business perhaps as much as \$100 million in profit. The new owners planned to remove the Trump name from the facade and rebrand the hotel a Waldorf Astoria. Workers were seen removing signage from the hotel Wednesday night. The Associated Press reported earlier this year that the group of investors includes former Yankee slugger Alex Rodriguez. ## Selling price defied expectations Many hotel brokers, owners and consultants did not expect the 263-room hotel down the street from the White House to fetch such a high price. The hotel lost more than \$70 million during the four years of Trump's presidency, including in each year before pandemic shutdowns. ![](https://i.cbc.ca/ais/1.6450685,1652372256000/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C5508%2C3545%29%3B) The former Trump International Hotel at the Old Post Office Building in Washington is seen Thursday from a distance. Democrats are questioning a per-room sale price that seems above local rates, despite the hotel's recent money-losing history. (Kevin Dietsch/Getty Images) The former president's son, Eric Trump, said on Wednesday the Trump Organization took a "dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world." He hailed the "the largest sale of a historic hotel in over 15 years." Democrats in Congress are questioning the transaction, which works out to more than \$1.4 million a room. Carolyn Maloney, the chair of the House committee on oversight, characterized it Wednesday as "the latest in a long line of questionable deals, conflicts of interest and constitutional violations involving former president Trump and his Washington, D.C. hotel." "The former president will personally receive tens of millions of dollars in profits from selling his lease at a significant premium over market rates, yet the American public still does not know whose money is paying for this deal," said Maloney. > The Trump hotel in Washington, D.C., has always presented a clear conflict of interest. This sale ends an era of corruption. I’m now working on legislation which will ensure no future \<a href="https://twitter.com/hashtag/POTUS?src=hash\&amp;ref\_src=twsrc%5Etfw"\>\#POTUS\</a\> can benefit from this sort of arrangement. \<a href="https://t.co/5kvUZAYYFY"\>https://t.co/5kvUZAYYFY\</a\> > > \&mdash;[@repdinatitus](https://twitter.com/repdinatitus/status/1523787963720945665) The committee earlier this month requested documents from CGI listing all of its investors. Democrats also want to ensure there are stricter, enforced laws regarding the business holdings of an incoming president. ## Trump, D.C. just settled case related to hotel The hotel was a magnet for lobbyists, diplomats and others seeking to curry favour with the president. Democrats said it sullied the reputation of the presidency, pitted his financial interest against public interest and possibly broke the law. Several lawsuits challenging his ownership of the lease were unsuccessful. Citizens for Responsibility and Ethics in Washington, a watchdog group, said Thursday the "Trump Hotel will live on as a black eye on government ethics." > Good riddance. \<a href="https://t.co/Fa8OtYv7kY"\>https://t.co/Fa8OtYv7kY\</a\> > > \&mdash;[@AGKarlRacine](https://twitter.com/AGKarlRacine/status/1524772029492301825) The controversies started from the beginning of his presidency. The D.C. Attorney General alleged in a lawsuit that the Trump presidential inaugural committee overpaid for events at the hotel and enriched the former president's family in the process. The committee raised an unprecedented \$107 million to host events celebrating Trump's inauguration in January 2017. - [Trump accused of misleading financial reports for his D.C. hotel while president](https://www.cbc.ca/news/world/trump-hotel-dc-report-1.6204711) - [U.S. judge denies Trump bid to end contempt order, keeps in place \$10K daily fine](https://www.cbc.ca/news/world/trump-contempt-order-request-denied-1.6435911) Last week, Attorney General Karl Racine announced a settlement in that suit had been reached that would see the Trump Organization and the committee pay \$750,000. Hours later, Trump blasted Racine and noted that the settlement includes no admission of guilt or liability. The hotel is the former Old Post Office building, and it's still formally owned by the federal government. The Trump Organization won rights to fix up the building and run it as a hotel in exchange for paying the government annual rent and a cut of profit upon a sale. With files from CBC News [CBC's Journalistic Standards and Practices](https://cbc.radio-canada.ca/en/vision/governance/journalistic-standards-and-practices)Ā·[About CBC News](https://www.cbc.ca/news/about-cbc-news-1.1294364) [Corrections and clarifications](https://www.cbc.ca/news/corrections-clarifications-1.5893564)Ā·[Submit a news tip](https://www.cbc.ca/news/email-cbc-contact-phone-tips-news-story-1.6466536)Ā· Report error ## Footer Links ### My Account - [Profile](https://www.cbc.ca/account/login) - [CBC Gem](https://gem.cbc.ca/benefits/) - [Newsletters](https://subscriptions.cbc.ca/listmanagement) - [About CBC Accounts](https://www.cbc.ca/account/features) ### Connect with CBC - [Facebook](https://www.facebook.com/cbc/) - [X](https://x.com/cbc/) - [YouTube](https://www.youtube.com/user/CBCtv) - [Instagram](https://www.instagram.com/cbc/?hl=en) - [Mobile](https://cbchelp.cbc.ca/hc/en-ca/categories/115000249853-Help-with-CBC-Apps) - [RSS](https://www.cbc.ca/rss/) - [Podcasts](https://www.cbc.ca/radio/podcasts) ### Contact CBC - [Submit Feedback](https://cbchelp.cbc.ca/hc/en-ca/requests/new) - [Help Centre](https://cbchelp.cbc.ca/hc/en-ca) Audience Relations, CBC P.O. 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Readable Markdown
[World](https://www.cbc.ca/news/world) The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and corruption to his critics, has been sold by his family company to a Miami-based investor fund. ## Ethics critics say hotel was rife with potential conflicts of interest ![Text to Speech Icon](https://www.cbc.ca/a/assets/texttospeech.svg) Listen to this article Estimated 4 minutes The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. ![](https://i.cbc.ca/ais/1.6450686,1652372190000/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C228%2C4275%2C2404%29%3B) Workers remove the signage for the Trump International Hotel on Wednesday night. The lease to the Washington, D.C., hotel, run by Donald Trump's family company while he was president, has been sold to a Miami-based investor fund. (Gemunu Amarasinghe/The Associated Press) The lease to the Washington, D.C., hotel run by Donald Trump's family company while he was president, a symbol of his power to Republicans and of corruption to his critics, has been sold by his family company to a Miami-based investor fund. The Trump Organization said Wednesday that it had completed the sale of a long-term lease of the Trump International Hotel to CGI Merchant Group of Miami for what it described as a record price per room for the city. Sources close to the deal, demanding anonymity to discuss the private transaction, have said that the price was \$375 million US, handing the Trump family business perhaps as much as \$100 million in profit. The new owners planned to remove the Trump name from the facade and rebrand the hotel a Waldorf Astoria. Workers were seen removing signage from the hotel Wednesday night. The Associated Press reported earlier this year that the group of investors includes former Yankee slugger Alex Rodriguez. ## Selling price defied expectations Many hotel brokers, owners and consultants did not expect the 263-room hotel down the street from the White House to fetch such a high price. The hotel lost more than \$70 million during the four years of Trump's presidency, including in each year before pandemic shutdowns. ![](https://i.cbc.ca/ais/1.6450685,1652372256000/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C5508%2C3545%29%3B) The former Trump International Hotel at the Old Post Office Building in Washington is seen Thursday from a distance. Democrats are questioning a per-room sale price that seems above local rates, despite the hotel's recent money-losing history. (Kevin Dietsch/Getty Images) The former president's son, Eric Trump, said on Wednesday the Trump Organization took a "dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world." He hailed the "the largest sale of a historic hotel in over 15 years." Democrats in Congress are questioning the transaction, which works out to more than \$1.4 million a room. Carolyn Maloney, the chair of the House committee on oversight, characterized it Wednesday as "the latest in a long line of questionable deals, conflicts of interest and constitutional violations involving former president Trump and his Washington, D.C. hotel." "The former president will personally receive tens of millions of dollars in profits from selling his lease at a significant premium over market rates, yet the American public still does not know whose money is paying for this deal," said Maloney. > The Trump hotel in Washington, D.C., has always presented a clear conflict of interest. This sale ends an era of corruption. I’m now working on legislation which will ensure no future \<a href="https://twitter.com/hashtag/POTUS?src=hash\&amp;ref\_src=twsrc%5Etfw"\>\#POTUS\</a\> can benefit from this sort of arrangement. \<a href="https://t.co/5kvUZAYYFY"\>https://t.co/5kvUZAYYFY\</a\> > > \&mdash;[@repdinatitus](https://twitter.com/repdinatitus/status/1523787963720945665) The committee earlier this month requested documents from CGI listing all of its investors. Democrats also want to ensure there are stricter, enforced laws regarding the business holdings of an incoming president. ## Trump, D.C. just settled case related to hotel The hotel was a magnet for lobbyists, diplomats and others seeking to curry favour with the president. Democrats said it sullied the reputation of the presidency, pitted his financial interest against public interest and possibly broke the law. Several lawsuits challenging his ownership of the lease were unsuccessful. Citizens for Responsibility and Ethics in Washington, a watchdog group, said Thursday the "Trump Hotel will live on as a black eye on government ethics." > Good riddance. \<a href="https://t.co/Fa8OtYv7kY"\>https://t.co/Fa8OtYv7kY\</a\> > > \&mdash;[@AGKarlRacine](https://twitter.com/AGKarlRacine/status/1524772029492301825) The controversies started from the beginning of his presidency. The D.C. Attorney General alleged in a lawsuit that the Trump presidential inaugural committee overpaid for events at the hotel and enriched the former president's family in the process. The committee raised an unprecedented \$107 million to host events celebrating Trump's inauguration in January 2017. - [Trump accused of misleading financial reports for his D.C. hotel while president](https://www.cbc.ca/news/world/trump-hotel-dc-report-1.6204711) - [U.S. judge denies Trump bid to end contempt order, keeps in place \$10K daily fine](https://www.cbc.ca/news/world/trump-contempt-order-request-denied-1.6435911) Last week, Attorney General Karl Racine announced a settlement in that suit had been reached that would see the Trump Organization and the committee pay \$750,000. Hours later, Trump blasted Racine and noted that the settlement includes no admission of guilt or liability. The hotel is the former Old Post Office building, and it's still formally owned by the federal government. The Trump Organization won rights to fix up the building and run it as a hotel in exchange for paying the government annual rent and a cut of profit upon a sale. With files from CBC News
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