Trump Organization Tries Once Again to Sell Its Washington Hotel

[marmar]

(Bloomberg) The Trump Organization has revived efforts to sell the lease on its Washington hotel after previously failing to find a buyer willing to match its expected price.

Former president Donald Trump’s business hired Newmark to market the lease on the Trump International Hotel in Washington and is looking to attract offers north of $400 million, according to people with knowledge of the matter, who asked not to be named because the details are private.

The Trump Organization put the property on the market in October 2019, asking more than $500 million, but it failed to reach a deal as the Covid-19 pandemic devastated the industry. Jones Lang LaSalle Inc., the broker for the 263-room hotel, later parted ways with the company, part of a wider backlash by corporate America looking to cut ties with Trump for his role in inciting a mob at the U.S. Capitol.

Eric Trump declined to comment. The Washington Post earlier Tuesday reported the hiring of Newmark. .............(more)

https://www.bloomberg.com/news/articles/2021-06-01/trump-organization-tries-once-again-to-sell-its-washington-hotel?srnd=premium

[brewens]

1. It comes with free bedbugs. Those are a money maker. Guests have to order more room service to

compensate for the blood loss.

[Hugh_Lebowski]

2. That's odd, given how TFG is gonna get re-POTUS'd by August, you'd think they'd want to

keep it

[C_U_L8R]

3. They want to be paid for their lease?

I'd wait it out. They'll inevitably screw it up and the actual lease with the USA will be back on the open market

[Bristlecone]

4. Another failed venture and bankruptcy to chalk up to team the last guy

They can’t milk it w/o the potus office to funnel money to it. Nobody is going to stay there now or when everything is back to normal. It’s received the Trump shitus touch and will die.

[keithbvadu2]

5. Foreign gov'ts do not need to rent blocks of rooms that never get used to curry favor with the Prez

Foreign gov'ts do not need to rent blocks of rooms that never get used to curry favor with the Prez any more.

Wonder what the expected occupancy is in the prospectus.

[Blue Owl]

6. No comment from Gums?

Nice to see he’s finally shut up for once

[hatrack]

7. Womp Womp!

[DET]

8. That Building Is A Landmark

I was horrified when Trump took over this property, formerly known as The Old Post Office. It is a beautiful building, which was inexplicably allowed to deteriorate over many years. The lounge area on the first floor used to be a food court, and the balcony area that became Trump’s restaurant used to be home to a variety of inexpensive vendors with stalls. The building deserved better, but it certainly deserved better than Trump.