Trump International Hotel rights sale
The Trump Organization, owned by former US President Donald Trump's family, has once again put up for sale the lease rights to Washington's Trump International Hotel. This was reported by The Washington Post on Tuesday, citing sources.
In November 2020, Trump's company indefinitely suspended attempts to sell the lease rights due to a complete lack of willing investors in the requested $500 million.
As the publication notes, the hotel has suffered recent financial losses due to both the coronavirus pandemic and the fact that the brand is associated with the name of the former president, whose policies had many detractors. Thus, The Washington Post notes that many members of the liberal public, businesses, and foreign clients for ideological reasons refuse to stay in a Washington hotel associated with the name of the former White House leader.
The Post Office Building on Central Washington Boulevard, built more than 120 years ago, has been transformed into the Trump International Hotel for $210 million. The building is owned by the federal government and leased to the Trump Organization, which has pledged to pay $3 million annually for the next 60 years.