Colorado Springs

Trump sells Washington hotel lease to Miami-based investor group – Colorado Springs, Colorado

Colorado Springs, Colorado 2022-05-11 19:37:50 –

The lease to a hotel in Washington, which was run by Donald Trump during his presidency, was sold to a Miami-based investor fund.

The Trump Organization announced on Wednesday that it has completed the sale of operating rights to the Trump International Hotel to the CGI Merchant Group in Miami. The price was $ 375 million, according to sources close to transactions that require anonymity to discuss personal transactions.

The hotel was attractive not only to controversies and proceedings, but also to lobbyists and Republican politicians during President Trump’s term. The new owner plans to change the brand of the building to Waldorf Astoria.

Many hotel brokers, owners and consultants did not expect a 263-room hotel near the White House to get such a high price. Associated Press reported.. The hotel lost more than $ 70 million in President Trump’s four years, including each year before the pandemic stopped.



Trump sells Washington hotel lease to Miami-based investor group Source link Trump sells Washington hotel lease to Miami-based investor group

Back to top button