Tags: trump | hotel | foreign | government

Trump DC Hotel Sales Pitch: Millions to be Made From Foreign Governments

trump international hotel is shown in washington with american flags above the door frame
The north face of the Trump International Hotel is seen in this general view. Monday, March 11, 2019, in Washington D.C. (Mark Tenally/AP)

By    |   Thursday, 14 November 2019 08:34 AM

Looking to sell off the lease to the Trump International Hotel in Washington, the Trump Organization is touting the property’s potential to profit off foreign governments, CNN is reporting.

"Tremendous upside potential exists for a new owner to fully capitalize on government related business upon rebranding of the asset," reads a 46-page investor brochure obtained by CNN.

The Trump Organization maintains it lost out on more than $9 million in business because of its refusal to solicit foreign business. CNN noted the brochure says the company turned away 17,100 room nights in 2019, which resulted in $5.3 million in lost revenue and an additional $3.9 in lost food and beverage revenue.

The brochure does not include figures on how much the hotel accepted from foreign governments, CNN said. And the news network noted the hotel is named in lawsuits claiming President Donald Trump used the property to illegally profit off his presidency.

The 263-room luxury hotel, which opened in September 2016, is located in the Old Post Office building not far from the White House.

The Trump Organization hopes to receive more than $500 million for the leasing rights, or about $2 million per room key, The Wall Street Journal reported.

With extensions, the lease lasts nearly 100 years, with a new owner controlling the property into the next century, the Journal said.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
Looking to sell off the lease to the Trump International Hotel in Washington, the Trump Organization is touting the property’s potential to profit off foreign governments, CNN is reporting.
trump, hotel, foreign, government
223
2019-34-14
Thursday, 14 November 2019 08:34 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved