Connect with us

Hi, what are you looking for?

United States

Trump Completes Sale of Washington Hotel to Investor Group

But some guests with reservations at the hotel — who have been called and told they are being canceled, expressed frustration. “They are just stiffing everyone,” said Jayson Woodbridge, the famed California winemaker who had a reservation for a weeklong stay at the hotel to attend his daughter’s graduation in the area.

Mickael Damelincourt, the longtime manager of the hotel, moved from table to table to greet some of the regulars at the lobby bar, pausing to take photos with several of them in advance of the sale of the hotel. The BLT Prime restaurant at the property had already closed permanently, as had the Ivanka Trump spa, and the hotel itself was no longer taking room reservations.

Just days before the sale closed, the Trump Organization and Mr. Trump’s 2017 inauguration committee agreed to settle a lawsuit filed by Karl A. Racine, the attorney general for the District of Columbia, who had claimed that the hotel had illegally received excessive payments from the inauguration committee, totaling more than $1 million.

The settlement in the civil suit came with no admission of wrongdoing by the Trump Organization, the former president or the inaugural committee.

Those claims were among the many allegations in various lawsuits that Mr. Trump improperly profited from the presidency through payments made to the hotel by, among others, lobbyists and foreign governments, including suits from the state of Maryland and Democratic members of Congress citing the emoluments clauses of the Constitution, which prohibit federal officials from accepting financial benefits from foreign governments without congressional approval.

The Trump family has paid the federal government a base rent of $3 million a year for the Old Post Office Building, according to its 2013 lease. The sale will generate a profit of about $100 million for the family, once a loan taken out to pay for the renovations is paid off, according to estimates by House Democrats.

The contract with the federal government that the Trump Organization signed calls for the company to share some of its profits with the government if the hotel is sold. But a Trump Organization executive said the way the lease was written — allowing the Trump family to earn a 20 percent annual rate of return on equity put into the hotel project — meant there was not likely to be a large amount of such profit-sharing.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Politics

New White House press secretary Karine Jean-Pierre pointed to her race and sexual orientation during her first opening remarks on the job, thanking those...

Europe

BELFAST – Britain is pressing ahead with plans to grant legal immunity to former soldiers and others involved in Northern Ireland killings – but...

Politics

“I am a Black, gay, immigrant woman. The first of all three of those to hold this position,” Jean-Pierre told reporters on Monday. She...

Politics

Pennsylvania Senate candidate Kathy Barnette’s campaign said she was at the Jan. 6, 2021 protest in Washington, D.C., to “demand election accountability,” but didn’t...

Europe

BELFAST – Britain will introduce “a legislative solution” to post-Brexit trade tensions in Northern Ireland, Prime Minister Boris Johnson confirmed Monday during a visit...

Politics

Greenberg, a former county tax commissioner and close friend of Gaetz’s, pleaded guilty to six charges in May of last year, admitting that he...

United States

The Food and Drug Administration is expected as early as Tuesday to authorize a booster shot of the Pfizer-BioNTech vaccine for children 5 to...

Politics

MIDDLETOWN, PA – With the hours winding down until Tuesday’s primary in Pennsylvania, Republican candidate Dave McCormick was making a final pitch to voters....