Stock Groups

Trump reportedly reaches a $375 million deal to sell Trump International Hotel in D.C.


The Trump International Hotel in Washington DC can be seen June 2, 2021.

Kevin Dietsch | Getty Images

Ex-President Donald Trump’sA family-owned hotel chain has agreed to sell its Washington, D.C. hotel rights for $375million, according to The Wall Street Journal, which cited people who were familiar with the matter.

CGI Merchant Group, a Miami-based investment group, is under contract to buy the lease.

Trump International Hotel, located in a historical building just blocks from White House. The Trump Organization leases the historic building from the U.S. government. It has long been a favorite spot to gather Trump supporters as well as foreign dignitaries.

CGI has stated that it plans to remove Trump’s name from the paper and reached an agreement to allow Hilton Worldwide to manage and brand the property under the management of the Waldorf Astoria group.

Reuters reached out to Hilton, CGI Merchant and Trump Organization for comments on Sunday.

According to the U.S. House Committee on Oversight and Reform, newly acquired documents from the government raised troubling questions regarding the hotel.

According to the Democratic-controlled committee, Trump reported that the hotel earned him more than $150 million during his time in office but actually lost more than $70 million.

The committee found that the hotel received more than $3.7 million in payments from foreign governments — equal to more than 7,400 nights at the hotel, raising a potential conflict of interest.

Hotel is located in downtown. second-tallest structureAfter the Washington Monument. The U.S. Post Office Department Headquarters used to be housed in the building.