Trump Hotel in DC Braced for a Loss, Got a Windfall

Katrina Barker
August 12, 2017

Trump's Washington hotel has raked in about $18 million in the four months following Trump's inauguration.

Concerns over politicians, foreign nationals, and lobbyists spending their money at Trump properties as a way to curry favor with the US president is why CREW filed a lawsuit against President Trump alleging that he his involvement with his business empire while in office violates the Emoluments clause of the Constitution.

Trump International Hotel made $1.97 million in profit in the first four months of the year, up from an original forecast of a $2.1 million loss, beating expectations by almost 200 percent, according to government data first reported by the Washington Post.

It's not the only Trump property that has benefited financially from its namesake's presidency. Before Donald Trump won the presidential election previous year, the Trump Organization estimated the hotel would lose money in 2017 as it invested in growing its start-up hotel and convention business.

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

But although there has been evidence of revenue slipping at Trump golf courses, his D.C. hotel is already able to charge more than most - if not all - other hotels in the capital.

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.

Trump International visitors have spent $8.2 million on food and drinks so far at the hotel this year, beating expectations by 37.2 percent. The federal government collects $3 million in annual rent from the Trump Organization for the hotel. She also retained her stake in the hotel and reported $2.4 million in hotel-related revenue from its opening to June. 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%.

The hotel's management has sought to capitalize on the president's popularity in the GOP by marketing meeting space and rooms to Republicans and conservatives.

Critics of the president believe this is proof that Trump is profiting from the presidency.

"Some people really want to stay there, and then there's a bunch of people who don't".

Other reports by AllAboutTopnews

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