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Trump's new DC hotel turning a profit

12 August 2017

Experts interviewed by The Post said that the Trump International Hotel is now the most expensive hotel in Washington - partly because it has become a prestigious meeting ground for high-profile conservative leaders from around the world.

Trump's Washington hotel has raked in about $18 million in the four months following Trump's inauguration. According to data provided to the Washington Post by Smith Travel Research, the politically inflated rates at the Trump International have even made it the most expensive hotel in Washington DC, with guests staying at comparable hotels like the Hay-Adams, Four Seasons, and Willard only paying an average of $495 a night.

The Trump Organization signed a contract in 2013 with the federal government to lease the historic post office and turn it into an upscale hotel near numerous capital's most famous landmarks, including the White House. Rates for the hotel are higher than nearby competition, and the Journal reports the hotel charges 60 percent higher than its budgeted prices.

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Remember when, before President Trump took office, questions and concerns abounded about his conflicts of interest-that, with business holdings around the world, he could potentially profit from the presidency?

"The Trump International is, if not the, then one of the top rate-getters in the city", said Marc Magazine, an executive at the real estate firm Savills Studley.

It's not the only Trump property that has benefited financially from its namesake's presidency.

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The Trump Organization also doubled its membership initiation fees at its Mar-a-Lago golf course in Florida earlier this year - prompting critics to charge that the president is cashing in on his office.

"We are very proud of the success of the project", the president's son Eric Trump, who took over the company with his brother Don Jr., said in an email.

Trump denied there are any ethical issues, though the hotel has become a hot spot for Trump operatives, White House staffers, lobbyists and foreign governments. The hotel the analyst is referring to is the recently opened Trump International Hotel in Washington, DC, which has this year logged an occupancy rate of 42.3%.

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The Trump Organization leases the building in which the hotel is located from the GSA, the agency that acts as the federal government's landlord.

Trump's new DC hotel turning a profit