We have in recent times covered Mr. Donald Trump extensively. We have documented them all, from his political events to his quirks, appearances, and his never-ending ordeal. The iconic Trump International Hotel D.C and the Trump Towers have been more talked about than his children. Fact is, he has properties and children in equal measure and the hotels and properties are more talked about. Still, when the topic of Trump arises, you can’t help but have the Trump International Hotel D.C. as a part of the conversation, and that’s a habit we might have to get rid of and soon.
Rumor mills are abuzz with talks that former President Donald Trump is in advanced talks to sell one of his most prized hotels after being hard-hit by the coronavirus pandemic. Apparently, The Trump Organization has already hired a brokerage firm to sell the Trump International Hotel in Washington D.C. this will be a hard blow for Trump to get over and an equally celebratory moment for his opponents. Trump has been in talks with several major hotel chains. Post-pandemic, the Trump International Hotel in Washington D.C. saw a revenue decrease of more than 60 percent compared to the year prior. This news coincides with Trump International Hotel scoring the top spot as the highest-rated luxury hotel in Washington DC with 1,600 5 Star ratings on Tripadvisor.
The five-star hotel is located in a 122-year-old former Post Office building, for which Trump paid a monthly base rent of $250,000. It is an iconic landmark today, possessing suites with 18-foot ceilings and some of the largest hotel rooms in the capital city. Trump Organization put in almost $210million to renovate the property into a hotel that became synonymous with Trump’s tenure as President. During his presidency, it was a central location for events and other discussions, bustling with lobbyists and supporters.
News of Donald Trump taking the hard decision of parting ways with his beloved iconic property, The Trump International Hotel Washington DC, arose in 2019 when he hired the brokerage firm Newmark Group to market the lease of the Pennsylvania Avenue hotel. The same year The Trump International Hotel Washington DC was awarded one of the most prestigious hospitality awards there is – the Forbes Five Star Award. Trump’s woes see no end as his second most iconic property, the Trump Towers, is also facing a problem of unpaid rents. According to a Washington Post report, not one or two but several prominent tenants at Trump Tower are failing at making ends meet owing to the pandemic, which translates into rents not being paid on time.
[Via – WSJ]