Trump Organization is reportedly selling lease on D.C. hotel for $375 million


The Trump Organization has reached an agreement to sell its lease for the Trump International Hotel in Washington, D.C., for $375 million, people familiar with the matter told The Wall Street Journal.
The Miami-based investment firm CGI Merchant Group is set to acquire the lease, and has reached a deal with Hilton Worldwide Holdings to remove the Trump name and rebrand the property as a Waldorf Astoria, the Journal reports. Once a post office, the property is owned by the federal government, and the lease is for nearly 100 years.
During the Trump presidency, the hotel became a hot spot for Republican organizations, foreign leaders, and companies angling for government approvals, and several lawsuits were filed claiming that the property was in violation of the Constitution's emoluments clause.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Trump International Hotel opened five years ago, and while investigating the lease terms during the Trump presidency, the House Committee on Oversight and Reform found that the property lost more than $70 million between 2016 and 2020. Trump's most recent financial disclosure states that the hotel generated roughly $150 million in revenue over four years.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Ozempic menus: how weight-loss jabs are changing restaurants
In The Spotlight Reduced appetites mean a shift towards smaller portions
-
Canal-boating trips around the UK
The Week Recommends Britain's tranquil waterways are a great place to unwind
-
The horse racing industry is caught up in the migrant debate
Under the Radar At least 78% of the workers on race tracks are reportedly immigrants
-
The UK-US trade deal: what was agreed?
In Depth Keir Starmer's calm handling of Donald Trump paid off, but deal remains more of a 'damage limitation exercise' than 'an unbridled triumph'
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Trump vs. China: another tariff U-turn?
Today's Big Question Washington and Beijing make huge tariff cuts, as both sides seek 'exit ramp' from escalating trade war
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
How the US bond market works – and why it matters
The Explainer Donald Trump was forced to U-turn on tariffs after being 'spooked' by rise in Treasury yields
-
Who would win in a China-US trade war?
Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm