Trump Family Business Exits D.C. With $375M Sale of Hotel
The Trump Hotel is done. Soon it will be a Waldorf Astoria.
Erin Scott/Reuters
The Trump business is leaving Washington with the family completing its sale of the Trump International Hotel to a Miami investor group, which will re-open the historic building as a Waldorf Astoria. At $375 million, or approximately $1 million per room, it fetched an enormous price, and the family is expected to make around $100 million from the sale after loans are paid off. During Trump’s presidency, the hotel was a frequent gathering place for officials and loyalists, but it has since fallen in popularity. Various people filed lawsuits alleging that Trump inappropriately profited from payments to the hotel during his presidency.
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