Wednesday, 13 December 2017
Latest news
Main » Spike In Rates At Trump DC Hotel Helped Reverse Expected Losses

Spike In Rates At Trump DC Hotel Helped Reverse Expected Losses

12 August 2017

The industry average is $495.91 for comparable hotels, the Journal noted.

Trump's Washington hotel has raked in about $18 million in the four months following Trump's inauguration. And as The Wall Street Journal points out, the hotel also received a higher-than-normal portion of its revenue from food and beverages.

The Trump International Hotel in Washington, D.C. has profited almost $2 million in 2017, according to newly released figures.

The Post noted the Trump Organization thought the hotel would lose $2.1 million in the first four months of 2017. Rep. Peter DeFazio (D., Ore.) called the arrangement "highly unethical". Because the gods apparently wanted to make the Trump family's potential conflicts abundantly clear this week, it was also reported yesterday that Ivanka's fashion brand-from which she has taken a leave of absence and put into a trust (held in part by her brother-in-law Josh Kushner, whom she can ask about it at her leisure)-will be opening its first stand-alone store at, you'll never guess, New York's Trump Tower.

Government watchdog groups, competing businesses and state attorneys general have sued about what they call unfair business practices that allow Trump to use the presidency to enrich himself - a tension likely to be heightened by the hotel's nearly immediate profitability.

The watchdog group Citizens for Responsibility and Ethics in Washington alleged in January that Trump was violating the hotel's lease by not divesting from his company.

Man who shot officer in Brooklyn kills himself
Officers burst into the apartment building and found the gunman in a bedroom, dead of a self-inflicted gunshot wound, and also discovered two guns, police said.

Of his 202 days in office, Trump has spent 65 days at his properties, majority at his golf properties.

"We are very proud of the success of the project", the president's son Eric Trump, who took over the company with his brother Don Jr., said in an email.

Ivanka Trump, the president's daughter, led the development of the project as a Trump Organization executive before resigning to join the White House.

The Journal on Friday based its report on hotel records that were briefly posted online Thursday by the General Services Administration - the government agency that, despite Trump's control of it as President, serves as the Trump hotel's landlord - with financial data included.

Even though the hotel is rarely occupied, as in an average of 42% of rooms are unoccupied, its still managed to post an enormous profit.

Spike In Rates At Trump DC Hotel Helped Reverse Expected Losses