# Trump reaches $375M deal to sell DC hotel – WSJ
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-11-15
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Trump's Washington, D.C. Hotel Sold for $375 Million
Meta Description: Find out more about the sale of the Trump International Hotel in Washington, D.C., to CGI Merchant Group for $375 million and what this means for the future of
URL: https://financedigest.com/trump-reaches-375m-deal-to-sell-dc-hotel-wsjhtml

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WASHINGTON (Reuters) – Former President Donald Trump’s family hotel company has reached a deal to sell the rights to its Washington, D.C., hotel for $375 million, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Miami-based investment firm CGI Merchant Group is in contract to acquire the lease, the newspaper said.

The Trump International Hotel is in a historic [building a few blocks](https://www.financedigest.com/innovative-finance-isas-the-building-blocks-for-good-investment.html "Innovative Finance ISAs: the building blocks for good investment?") from the White House that the Trump Organization leases from the U.S. government. The hotel has been a popular gathering spot for Trump supporters and foreign dignitaries.

The newspaper said CGI intends to remove the Trump name and has [reached an agreement](https://www.financedigest.com/adnami-signs-agreements-with-schibsted-and-amedia-to-deliver-high-impact-ads-with-unparalleled-reach-across-the-nordics.html "Adnami signs agreements with Schibsted and Amedia to deliver high impact ads with unparalleled reach across the Nordics") with Hilton Worldwide Holdings to have the property managed and branded by [Hilton’s](https://www.financedigest.com/investment-opportunities-in-the-hotel-industry-krupesh-patel.html) Waldorf Astoria group.

The Trump organization, CGI Merchant and [Hilton](https://www.financedigest.com/investment-opportunities-in-the-hotel-industry-krupesh-patel.html) did not immediately respond to Reuters requests for comment on Sunday.

[Last month](https://www.financedigest.com/fintech-trends-to-look-out-for-during-the-last-six-months-of-2019.html "Fintech trends to look out for during the last six months of 2019"), the U.S. [House Committee](https://www.financedigest.com/us-house-committee-chair-concerned-by-tesla-deals-in-china.html "US House committee chair ‘concerned’ by Tesla deals in China") on Oversight and Reform said newly obtained government documents raised “troubling” questions about the hotel.

According to the Democratic-controlled [committee,](https://www.financedigest.com/swiss-authorities-draw-flak-in-credit-suisse-probe-report-says.html) Trump reported that the hotel earned him more than $150 million during his [time in office](https://www.financedigest.com/office-workers-waste-more-time-on-slow-tech-than-they-spend-on-holiday.html "Office Workers Waste More Time on Slow Tech Than They Spend on Holiday") but actually lost more than $70 million.

The [committee](https://www.financedigest.com/swiss-authorities-draw-flak-in-credit-suisse-probe-report-says.html) 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](https://www.financedigest.com/hotel-investors-should-they-be-worried-about-a-potential-economic-pause-delving-into-inflation-interest-rates-recession-etc.html "‘Hotel Investors – should they be worried about a potential economic pause?’ delving into inflation, interest rates, recession etc").

The hotel is in the city’s second-tallest structure, after the Washington Monument. The [building previously housed](https://www.financedigest.com/meet-the-women-working-hard-in-house-building.html "Meet The Women Working Hard In House Building") the U.S. Post [Office Department](https://www.financedigest.com/hundreds-of-tyson-foods-employees-to-depart-as-company-closes-offices-wsj.html "Hundreds of Tyson Foods employees to depart as company closes offices – WSJ") Headquarters.

(Reporting by David Shepardson in Washington and Kanishka Singh; Editing by Daniel Wallis)


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