Trump's new DC hotel turning a profit

Trevor Jackson
August 12, 2017

"From January to April, the average daily room rate was $660.28 compared with $495.91 for comparable hotels, according to the documents", the Journal wrote. As Trump engages in a disturbing war of words/glorified penis-measuring contest with Kim Jong-un, the Washington Post reports that the Trump International Hotel in Washington, D.C., "has become a financial juggernaut", according to the story's reporter, charging more than nearly any other D.C. hotel (about $650 per night) and drastically outperforming expectations to earn $19.7 million through April 15.

The Trump Organization had projected it would lose $2.1 million during the first four months of 2017 as it established a new hotel and convention business in the nation's capital, according to newly released federal documents.

The only divisions of the hotel that didn't churn a profit were retail, parking, and the Spa by Ivanka Trump. In addition to a 192% increase from revenue expectations, the hotel's room rates were quite a bit higher than management had anticipated. Since the his swearing in, the president's second property along Pennsylvania Avenue has hosted foreign lobbyists, banking executives, and others attracted to the luxury brand created by the President of the United States.

Remember when, before President Trump took office, questions and concerns abounded about his conflicts of interest-that, with business holdings around the world, he could potentially profit from the presidency? As GQ and WaPo have both recently reported, Trump International has emerged as the hottest spot in town for conservative politicians, pundits, and donors exiled in a heavily democratic city to hang out and drink wine served in spoons.

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"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.

Situated between the White House and Capitol Hill, Trump International Hotel is located in the converted 119-year-old Old Post Office Pavilion, a historic Romanesque building and clock tower owned by the federal government.

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.

Other reports by TheDailyFarc

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