Trump Organization Scrambling To Sell Their Failing DC Hotel
Published at : October 21, 2021
The Trump International Hotel in Washington, D.C. is losing money - a LOT of money. And the Trump Organization is hoping that they can offload the property for far more than they purchased it for in order to turn a profit on what was supposed to be a glimmering palace for foreign leaders to use when visiting Washington. But now that Trump isn't the President anymore (and even when he was), patrons didn't want to be seen on his property due to the toxicity of his name. Ring of Fire's Farron Cousins discusses this.
Link - https://thehill.com/business-a-lobbying/business-a-lobbying/576328-trump-company-in-late-stage-talks-to-sell-dc-hotel
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
According to new reports this week, Donald Trump's Trump organization is actually in the late stages of the process of selling off one of the crown jewels of the Trump organization itself, which is Trump international hotel in Washington, DC, as you'll recall, that is the place where foreign nationals would go and book a bunch of rooms sometimes pay in advance in the never show up and use the rooms. It's where any Republican group wanting to get influence over Donald Trump during his administration, they'd hold their events there. The hotel pulled in millions of dollars from the foreign officials and from these Republican groups over those four years, but none of it was enough to save the hotel. And it is in fact, according to these reports, losing money, losing a lot of money. And so the Trump organization is trying to offload it, which isn't as easy as you might think, right?
We're not talking about, Hey, I've got this great hotel over here. You want to buy it? Because see, it's in a building that's actually owned by the federal government. So the lease is held by the federal government and Donald Trump had to buy the lease from them. I believe it was in 2012, 2013 ish. So he bought the lease and now they're trying to sell the lease, but he's trying to sell it for way more than what they paid for it. So if the sale goes through as is, they will make several hundred million dollars off of this sale because they're thinking they can get, you know, 400 million for it. Whereas a couple years ago, when they toyed around with the idea of selling it, they thought they could get over half a billion dollars for it. And now they've had to lower the price a bit because, you know, but they do have very interested, uh, buyers, you know, major hotel chains are wanting to purchase this.
So the sale is going to go through. He's probably going to make a couple hundred million dollars off of it. And that money's all going to go into Trump's pocket. But you know, what's not going to go in Trump's favor on this, his name. That was what he wanted. He wanted his name right there in downtown Washington, DC. He wanted tourists from all over the country, all over the world to see his name. And the first thing. In fact, this is already being reported that these hotels that want to buy it are talking about is how to immediately rip that Trump name off of the building. Literally get it off, disassociate that piece of property from Donald Trump, because that is where the toxicity lies. I mean, honestly, I know Trump likes to see his name up there and everything, but if you wanted your business to be more successful these days, taking your name off the properties is actually the best way to start.
You're hated by more than half of the country. And I know you have your hard core Magda hat wearers, but those aren't exactly the people that have the kind of resources to, you know, become members at Bedminster or become members at Mar-a-Lago or even stay in your DC hotel. And that's, what's caused Donald Trump a lot of financial headaches over the years. Yes. He pandered to those individuals. They showed up at his rallies, but he needs the millionaire and billionaire class to keep his properties functioning and turning a profit.
Link - https://thehill.com/business-a-lobbying/business-a-lobbying/576328-trump-company-in-late-stage-talks-to-sell-dc-hotel
Become a member today!: https://www.youtube.com/channel/UCYWIEbibRcZav6xMLo9qWWw/join
Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!: https://www.patreon.com/TheRingofFire
Find our merchandise at Teespring: https://teespring.com/stores/rof-store
Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content!
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
According to new reports this week, Donald Trump's Trump organization is actually in the late stages of the process of selling off one of the crown jewels of the Trump organization itself, which is Trump international hotel in Washington, DC, as you'll recall, that is the place where foreign nationals would go and book a bunch of rooms sometimes pay in advance in the never show up and use the rooms. It's where any Republican group wanting to get influence over Donald Trump during his administration, they'd hold their events there. The hotel pulled in millions of dollars from the foreign officials and from these Republican groups over those four years, but none of it was enough to save the hotel. And it is in fact, according to these reports, losing money, losing a lot of money. And so the Trump organization is trying to offload it, which isn't as easy as you might think, right?
We're not talking about, Hey, I've got this great hotel over here. You want to buy it? Because see, it's in a building that's actually owned by the federal government. So the lease is held by the federal government and Donald Trump had to buy the lease from them. I believe it was in 2012, 2013 ish. So he bought the lease and now they're trying to sell the lease, but he's trying to sell it for way more than what they paid for it. So if the sale goes through as is, they will make several hundred million dollars off of this sale because they're thinking they can get, you know, 400 million for it. Whereas a couple years ago, when they toyed around with the idea of selling it, they thought they could get over half a billion dollars for it. And now they've had to lower the price a bit because, you know, but they do have very interested, uh, buyers, you know, major hotel chains are wanting to purchase this.
So the sale is going to go through. He's probably going to make a couple hundred million dollars off of it. And that money's all going to go into Trump's pocket. But you know, what's not going to go in Trump's favor on this, his name. That was what he wanted. He wanted his name right there in downtown Washington, DC. He wanted tourists from all over the country, all over the world to see his name. And the first thing. In fact, this is already being reported that these hotels that want to buy it are talking about is how to immediately rip that Trump name off of the building. Literally get it off, disassociate that piece of property from Donald Trump, because that is where the toxicity lies. I mean, honestly, I know Trump likes to see his name up there and everything, but if you wanted your business to be more successful these days, taking your name off the properties is actually the best way to start.
You're hated by more than half of the country. And I know you have your hard core Magda hat wearers, but those aren't exactly the people that have the kind of resources to, you know, become members at Bedminster or become members at Mar-a-Lago or even stay in your DC hotel. And that's, what's caused Donald Trump a lot of financial headaches over the years. Yes. He pandered to those individuals. They showed up at his rallies, but he needs the millionaire and billionaire class to keep his properties functioning and turning a profit.
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