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| Meta Title | Trump Completes Sale of Washington Hotel to Investor Group - The New York Times |
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The favored gathering place of Trump supporters — and a magnet for conflict of interest questions — will become a Waldorf Astoria.
The hotel opened just a few weeks before Donald J. Trump was elected president in 2016 after a $200 million renovation of the once-decrepit building.
Credit...
Kenny Holston for The New York Times
May 11, 2022
WASHINGTON — The Trump International Hotel in Washington is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria.
The sale formally ended the Trump family’s business presence in Washington, although the family company still owns a golf course in Northern Virginia. The deal with the investor group,
CGI Merchant Group
, for a reported price of $375 million covers only the operation of the hotel, which is housed in a building leased from the federal government.
The new owners moved quickly to take control of the hotel, sending a crew out after dark on Wednesday to begin taking down the Trump signs, starting with the gold-plated family name above the main entrance.
Hotel industry executives have said the hotel had underperformed compared with other luxury hotels in the city, particularly since President Donald J. Trump left office, in part because some companies and travelers were reluctant to book rooms or hold events at the hotel given the controversies surrounding Mr. Trump. Those factors most likely contributed to the decision to sell the lease, they said.
But the 263-room hotel still pulled in an exceptionally high sale price, given its location on Pennsylvania Avenue, between the White House and the Capitol, and its presence inside a Washington landmark, the
Old Post Office Building
, whose clock tower makes it one of the tallest buildings in the capital.
The average sales price for hotels in Washington in 2020 was $354,000 per room, according to a survey by JLL, a real estate firm. The reported price for the Trump hotel deal suggested a per-room price of more than $1 million, a level that surprised some veteran real estate executives in Washington.
The hotel, which opened just a few weeks before Mr. Trump was elected president in 2016 after a $200 million renovation of the once-decrepit building,
became a gathering place
for his supporters, members of his cabinet, lobbyists, Republicans in Congress and foreign leaders, some of whom were on their way to see Mr. Trump.
Image
Workers removing the Trump branding from what was the Trump International Hotel in Washington on Wednesday night.
Credit...
Kenny Holston for The New York Times
“We took a dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world,” Eric Trump, Mr. Trump’s son and an executive vice president of the Trump Organization, said in a statement on Wednesday announcing the closing of the sale.
A spokesman for CGI declined to comment.
But since 2020, the hotel has generally seen sparse crowds in its sprawling lobby, including late last week, several days before the closing, when just a few tables were occupied at the lobby bar.
“It is a beautiful property,” said David Lentz of Placentia, Calif., who visited the lobby last week. “Good for him, if Trump is making more money on it.”
But some would-be guests expressed frustration after they received calls telling them their reservations had been canceled. “They are just stiffing everyone,” said Jayson Woodbridge, a California winemaker who had a reservation for a weeklong stay at the hotel to attend his daughter’s graduation in the area.
Last week, Mickael Damelincourt, the longtime manager of the hotel, moved from table to table to greet some of the regulars at the lobby bar, pausing to take photos with several of them in advance of the hotel’s sale. The BLT Prime restaurant at the property had already closed permanently, as had the Ivanka Trump spa, and the hotel itself was no longer taking room reservations.
Just days before the sale closed, the Trump Organization and Mr. Trump’s 2017 inaugural committee
agreed to settle a lawsuit
filed by Karl A. Racine, the attorney general for the District of Columbia, who had claimed that the hotel had illegally received excessive payments from the inaugural committee, totaling more than $1 million.
The settlement in the civil suit came with no admission of wrongdoing by the Trump Organization, the former president or the inaugural committee.
Those claims were among the many allegations in various lawsuits that Mr. Trump improperly profited from the presidency through payments made to the hotel by, among others, lobbyists and foreign governments. Suits from the State of Maryland and Democratic members of Congress cited the
emoluments clauses
of the Constitution, which prohibit federal officials from accepting financial benefits from foreign governments without congressional approval.
The Trump family has paid the federal government a base rent of
$3 million a year
for the Old Post Office Building,
according to its 2013 lease
. The sale will generate a profit of about $100 million for the family, once a loan taken out to pay for the renovations is paid off,
according to estimates
by House Democrats.
The contract with the federal government that the Trump Organization signed
called for the company to share some of its profits
with the government if the hotel were sold. But a Trump Organization executive said the way the lease was written — allowing the Trump family to earn a 20 percent annual rate of return on equity put into the hotel project — meant there was not likely to be a large amount of such profit-sharing.
A correction was made on
May 11, 2022
:
An earlier version of this article misstated the year in which the average sales price for hotels in Washington was $354,000 per room. It was 2020, not 2002.
Eric Lipton
is a Washington-based investigative reporter. A three-time winner of the Pulitzer Prize, he previously worked at The Washington Post and The Hartford Courant.
A version of this article appears in print on
May 12, 2022
, Section A, Page 19 of the New York edition with the headline: Trump Finishes Sale of Washington Hotel, a Magnet for Supporters and Squabbles
.
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# Trump Completes Sale of Washington Hotel to Investor Group
The favored gathering place of Trump supporters — and a magnet for conflict of interest questions — will become a Waldorf Astoria.
- Share full article

The hotel opened just a few weeks before Donald J. Trump was elected president in 2016 after a \$200 million renovation of the once-decrepit building.Credit...Kenny Holston for The New York Times
[](https://www.nytimes.com/by/eric-lipton)
By [Eric Lipton](https://www.nytimes.com/by/eric-lipton)
May 11, 2022
WASHINGTON — The Trump International Hotel in Washington is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria.
The sale formally ended the Trump family’s business presence in Washington, although the family company still owns a golf course in Northern Virginia. The deal with the investor group, [CGI Merchant Group](https://cgimg.com/), for a reported price of \$375 million covers only the operation of the hotel, which is housed in a building leased from the federal government.
The new owners moved quickly to take control of the hotel, sending a crew out after dark on Wednesday to begin taking down the Trump signs, starting with the gold-plated family name above the main entrance.
Hotel industry executives have said the hotel had underperformed compared with other luxury hotels in the city, particularly since President Donald J. Trump left office, in part because some companies and travelers were reluctant to book rooms or hold events at the hotel given the controversies surrounding Mr. Trump. Those factors most likely contributed to the decision to sell the lease, they said.
But the 263-room hotel still pulled in an exceptionally high sale price, given its location on Pennsylvania Avenue, between the White House and the Capitol, and its presence inside a Washington landmark, the [Old Post Office Building](https://www.gsa.gov/historic-buildings/old-post-office-washington-dc), whose clock tower makes it one of the tallest buildings in the capital.
The average sales price for hotels in Washington in 2020 was \$354,000 per room, according to a survey by JLL, a real estate firm. The reported price for the Trump hotel deal suggested a per-room price of more than \$1 million, a level that surprised some veteran real estate executives in Washington.
The hotel, which opened just a few weeks before Mr. Trump was elected president in 2016 after a \$200 million renovation of the once-decrepit building, [became a gathering place](https://www.nytimes.com/2022/04/20/us/politics/trump-hotel-sale-washington.html) for his supporters, members of his cabinet, lobbyists, Republicans in Congress and foreign leaders, some of whom were on their way to see Mr. Trump.
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Image

Workers removing the Trump branding from what was the Trump International Hotel in Washington on Wednesday night.Credit...Kenny Holston for The New York Times
“We took a dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world,” Eric Trump, Mr. Trump’s son and an executive vice president of the Trump Organization, said in a statement on Wednesday announcing the closing of the sale.
A spokesman for CGI declined to comment.
But since 2020, the hotel has generally seen sparse crowds in its sprawling lobby, including late last week, several days before the closing, when just a few tables were occupied at the lobby bar.
“It is a beautiful property,” said David Lentz of Placentia, Calif., who visited the lobby last week. “Good for him, if Trump is making more money on it.”
But some would-be guests expressed frustration after they received calls telling them their reservations had been canceled. “They are just stiffing everyone,” said Jayson Woodbridge, a California winemaker who had a reservation for a weeklong stay at the hotel to attend his daughter’s graduation in the area.
Last week, Mickael Damelincourt, the longtime manager of the hotel, moved from table to table to greet some of the regulars at the lobby bar, pausing to take photos with several of them in advance of the hotel’s sale. The BLT Prime restaurant at the property had already closed permanently, as had the Ivanka Trump spa, and the hotel itself was no longer taking room reservations.
Just days before the sale closed, the Trump Organization and Mr. Trump’s 2017 inaugural committee [agreed to settle a lawsuit](https://www.nytimes.com/2022/05/03/us/politics/trump-hotel-lawsuit-settlement.html) filed by Karl A. Racine, the attorney general for the District of Columbia, who had claimed that the hotel had illegally received excessive payments from the inaugural committee, totaling more than \$1 million.
The settlement in the civil suit came with no admission of wrongdoing by the Trump Organization, the former president or the inaugural committee.
Those claims were among the many allegations in various lawsuits that Mr. Trump improperly profited from the presidency through payments made to the hotel by, among others, lobbyists and foreign governments. Suits from the State of Maryland and Democratic members of Congress cited the [emoluments clauses](https://www.nytimes.com/2021/01/25/us/emoluments-trump-supreme-court.html) of the Constitution, which prohibit federal officials from accepting financial benefits from foreign governments without congressional approval.
The Trump family has paid the federal government a base rent of [\$3 million a year](https://int.nyt.com/data/documenttools/trump-hotel-taxes-exhibits-082916/1e6938924f00b463/full.pdf#page=9) for the Old Post Office Building, [according to its 2013 lease](https://int.nyt.com/data/documenttools/opo-trump-lease/be3acef243f1735c/full.pdf). The sale will generate a profit of about \$100 million for the family, once a loan taken out to pay for the renovations is paid off, [according to estimates](https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-02-17.CBM%20GEC%20to%20Carnahan-GSA%20re%20Trump%20Hotel%20Lease.pdf) by House Democrats.
The contract with the federal government that the Trump Organization signed [called for the company to share some of its profits](https://int.nyt.com/data/documenttools/trump-hotel-taxes-exhibits-082916/1e6938924f00b463/full.pdf#page=9) with the government if the hotel were sold. But a Trump Organization executive said the way the lease was written — allowing the Trump family to earn a 20 percent annual rate of return on equity put into the hotel project — meant there was not likely to be a large amount of such profit-sharing.
The Trump Hotel in Washington
[![]()Trump Settles Suit Over Payments to Hotel for 2017 Inauguration May 3, 2022](https://www.nytimes.com/2022/05/03/us/politics/trump-hotel-lawsuit-settlement.html)
[![]()Checking Out: Trump Hotel Sale Will End an Era April 20, 2022](https://www.nytimes.com/2022/04/20/us/politics/trump-hotel-sale-washington.html)
[![]()Selling Trump: A Profitable Post-Presidency Like No Other Feb. 12, 2022](https://www.nytimes.com/2022/02/12/us/politics/donald-trump-business-interests.html)
**A correction was made on**
May 11, 2022
:
An earlier version of this article misstated the year in which the average sales price for hotels in Washington was \$354,000 per room. It was 2020, not 2002.
***
When we learn of a mistake, we acknowledge it with a correction. If you spot an error, please let us know at [corrections@nytimes.com](mailto:corrections@nytimes.com).[Learn more](https://www.nytimes.com/explain/2022/new-york-times-journalism)
[Eric Lipton](https://www.nytimes.com/by/eric-lipton) is a Washington-based investigative reporter. A three-time winner of the Pulitzer Prize, he previously worked at The Washington Post and The Hartford Courant.
A version of this article appears in print on May 12, 2022, Section A, Page 19 of the New York edition with the headline: Trump Finishes Sale of Washington Hotel, a Magnet for Supporters and Squabbles. [Order Reprints](https://nytimes.wrightsmedia.com/) \| [Today’s Paper](https://www.nytimes.com/section/todayspaper) \| [Subscribe](https://www.nytimes.com/subscriptions/Multiproduct/lp8HYKU.html?campaignId=48JQY)
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- Share full article
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| Readable Markdown | Advertisement
[SKIP ADVERTISEMENT](https://www.nytimes.com/2022/05/11/us/politics/trump-hotel-sale-washington.html#after-top)
The favored gathering place of Trump supporters — and a magnet for conflict of interest questions — will become a Waldorf Astoria.

The hotel opened just a few weeks before Donald J. Trump was elected president in 2016 after a \$200 million renovation of the once-decrepit building.Credit...Kenny Holston for The New York Times
May 11, 2022
WASHINGTON — The Trump International Hotel in Washington is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria.
The sale formally ended the Trump family’s business presence in Washington, although the family company still owns a golf course in Northern Virginia. The deal with the investor group, [CGI Merchant Group](https://cgimg.com/), for a reported price of \$375 million covers only the operation of the hotel, which is housed in a building leased from the federal government.
The new owners moved quickly to take control of the hotel, sending a crew out after dark on Wednesday to begin taking down the Trump signs, starting with the gold-plated family name above the main entrance.
Hotel industry executives have said the hotel had underperformed compared with other luxury hotels in the city, particularly since President Donald J. Trump left office, in part because some companies and travelers were reluctant to book rooms or hold events at the hotel given the controversies surrounding Mr. Trump. Those factors most likely contributed to the decision to sell the lease, they said.
But the 263-room hotel still pulled in an exceptionally high sale price, given its location on Pennsylvania Avenue, between the White House and the Capitol, and its presence inside a Washington landmark, the [Old Post Office Building](https://www.gsa.gov/historic-buildings/old-post-office-washington-dc), whose clock tower makes it one of the tallest buildings in the capital.
The average sales price for hotels in Washington in 2020 was \$354,000 per room, according to a survey by JLL, a real estate firm. The reported price for the Trump hotel deal suggested a per-room price of more than \$1 million, a level that surprised some veteran real estate executives in Washington.
The hotel, which opened just a few weeks before Mr. Trump was elected president in 2016 after a \$200 million renovation of the once-decrepit building, [became a gathering place](https://www.nytimes.com/2022/04/20/us/politics/trump-hotel-sale-washington.html) for his supporters, members of his cabinet, lobbyists, Republicans in Congress and foreign leaders, some of whom were on their way to see Mr. Trump.
Image

Workers removing the Trump branding from what was the Trump International Hotel in Washington on Wednesday night.Credit...Kenny Holston for The New York Times
“We took a dilapidated and underutilized building and transformed it into one of the most iconic hotels in the world,” Eric Trump, Mr. Trump’s son and an executive vice president of the Trump Organization, said in a statement on Wednesday announcing the closing of the sale.
A spokesman for CGI declined to comment.
But since 2020, the hotel has generally seen sparse crowds in its sprawling lobby, including late last week, several days before the closing, when just a few tables were occupied at the lobby bar.
“It is a beautiful property,” said David Lentz of Placentia, Calif., who visited the lobby last week. “Good for him, if Trump is making more money on it.”
But some would-be guests expressed frustration after they received calls telling them their reservations had been canceled. “They are just stiffing everyone,” said Jayson Woodbridge, a California winemaker who had a reservation for a weeklong stay at the hotel to attend his daughter’s graduation in the area.
Last week, Mickael Damelincourt, the longtime manager of the hotel, moved from table to table to greet some of the regulars at the lobby bar, pausing to take photos with several of them in advance of the hotel’s sale. The BLT Prime restaurant at the property had already closed permanently, as had the Ivanka Trump spa, and the hotel itself was no longer taking room reservations.
Just days before the sale closed, the Trump Organization and Mr. Trump’s 2017 inaugural committee [agreed to settle a lawsuit](https://www.nytimes.com/2022/05/03/us/politics/trump-hotel-lawsuit-settlement.html) filed by Karl A. Racine, the attorney general for the District of Columbia, who had claimed that the hotel had illegally received excessive payments from the inaugural committee, totaling more than \$1 million.
The settlement in the civil suit came with no admission of wrongdoing by the Trump Organization, the former president or the inaugural committee.
Those claims were among the many allegations in various lawsuits that Mr. Trump improperly profited from the presidency through payments made to the hotel by, among others, lobbyists and foreign governments. Suits from the State of Maryland and Democratic members of Congress cited the [emoluments clauses](https://www.nytimes.com/2021/01/25/us/emoluments-trump-supreme-court.html) of the Constitution, which prohibit federal officials from accepting financial benefits from foreign governments without congressional approval.
The Trump family has paid the federal government a base rent of [\$3 million a year](https://int.nyt.com/data/documenttools/trump-hotel-taxes-exhibits-082916/1e6938924f00b463/full.pdf#page=9) for the Old Post Office Building, [according to its 2013 lease](https://int.nyt.com/data/documenttools/opo-trump-lease/be3acef243f1735c/full.pdf). The sale will generate a profit of about \$100 million for the family, once a loan taken out to pay for the renovations is paid off, [according to estimates](https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-02-17.CBM%20GEC%20to%20Carnahan-GSA%20re%20Trump%20Hotel%20Lease.pdf) by House Democrats.
The contract with the federal government that the Trump Organization signed [called for the company to share some of its profits](https://int.nyt.com/data/documenttools/trump-hotel-taxes-exhibits-082916/1e6938924f00b463/full.pdf#page=9) with the government if the hotel were sold. But a Trump Organization executive said the way the lease was written — allowing the Trump family to earn a 20 percent annual rate of return on equity put into the hotel project — meant there was not likely to be a large amount of such profit-sharing.
**A correction was made on**
May 11, 2022
:
An earlier version of this article misstated the year in which the average sales price for hotels in Washington was \$354,000 per room. It was 2020, not 2002.
[Eric Lipton](https://www.nytimes.com/by/eric-lipton) is a Washington-based investigative reporter. A three-time winner of the Pulitzer Prize, he previously worked at The Washington Post and The Hartford Courant.
A version of this article appears in print on May 12, 2022, Section A, Page 19 of the New York edition with the headline: Trump Finishes Sale of Washington Hotel, a Magnet for Supporters and Squabbles. [Order Reprints](https://nytimes.wrightsmedia.com/) \| [Today’s Paper](https://www.nytimes.com/section/todayspaper) \| [Subscribe](https://www.nytimes.com/subscriptions/Multiproduct/lp8HYKU.html?campaignId=48JQY)
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