Trump International Hotel In Washington, D.C. (Photo: WIkimedia)
Donald Trump‘s family business is set to sell its marquee Washington hotel for at least $375 million, even though the property itself has struggled to make money.
Lawsuits have been filed against Trump for allegedly receiving foreign donations to finance the hotel, violating the emoluments clause of the U.S. Constitution, which prohibits federal officials from taking gifts or payments from other governments.
According to audits by House investigators, the hotel lost around $74 million from 2016 to 2020.
Though a final sale has not yet taken place, the buyer, CGI Merchant Group, is considering a deal to rename the hotel under the Waldorf Astoria luxury brand.
Subscribe to our free weekly newsletter!
A week of political news in your in-box.
We find the news you need to know, so you don't have to.
If the lease is completed as planned, Trump can expect to earn a sizable profit on the sale, allowing the Trumps to pay off a loan for the property.
On Tuesday, House Democrats said they would join the GOP to kill an effort to…
After Arizona lawmakers voted to repeal the state's Civil War-era abortion ban, the legislation was…
On Friday, former American Media CEO David Pecker concluded his testimony about meetings he had with…
On Sunday, Rep. Marjorie Taylor Greene (R-Georgia) said her motion to vacate the speakership is "coming" regardless…
On Tuesday, the Federal Trade Commission (FTC) banned noncompete agreements in a 3-2 vote. The…
A proposed bill in California would prohibit security screening company CLEAR from skipping the general…