Spike In Rates At Trump DC Hotel Helped Reverse Expected Losses

Randolph Lopez
August 12, 2017

Trump's ability to profit from the DC hotel while in office has raised multiple ethical concerns since he came to the White House.

The extravagant Washington, D.C., hotel bearing the name of President Donald Trump took home almost $2 million in profits this year, according to financial reports from its management company seen by multiple media outlets.

The General Services Administration on Friday pulled down a trove of unredacted documents from its website that revealed President Trump's Washington hotel made $1.97 million in profits so far in 2017.

The Trump Organization expected the hotel to lose $2 million in the first four months of 2017.

"The Trump hotel seems to be able to profit off a much smaller group, even though it is more than half empty".

"What makes all of this particularly galling is that we now have the unprecedented situation where the President of the United States is both the landlord and tenant of a federal building", Rep. Peter A. DeFazio said in a statement.

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Government watchdog groups, competing businesses and state attorneys general have sued about what they call unfair business practices that allow Trump to use the presidency to enrich himself - a tension likely to be heightened by the hotel's nearly immediate profitability.

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

The watchdog group Citizens for Responsibility and Ethics in Washington alleged in January that Trump was violating the hotel's lease by not divesting from his company.

Situated between the White House and Capitol Hill, Trump International Hotel is located in the converted 119-year-old Old Post Office Pavilion, a historic Romanesque building and clock tower owned by the federal government. The most recent legal challenge to Trump's ownership of the property, filed by the watchdog group Citizens for Responsibility and Ethics in a NY district court on August 4, claimed that "no previous president has come to office with such disregard for conflicts-of-interest principles, or presented remotely the same risk of financial entanglement, foreign and domestic".

Trump and the Trump Organization have denied any wrongdoing. 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%.

Other reports by GlobalViralNews

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