Donald Trump, the great former president that should have been the president again, is taking what is called another stab at selling the lease to his company’s hotel in Washington, DC. The Trump Organization, for the second time, has hired a broker to sell the Pennsylvania Avenue hotel. This is after the COVID-19 pandemic that hindered the first effort in the fall of 2019. In fact, the company decided to take the property off the market after COVID-19 hit.
Donald Trump’s Organization Hired Newmark Group
The Trump Organization has hired Newmark Group, a real-estate advisory firm. This is to market the property in Washington, D.C. which the company leases from the General Services Administration. In fact, the Trump Organization did not quickly respond to a request for comment. Newmark Group declined to comment.
Almost Half-Empty Rooms
The rooms were running almost half-empty. That was when the company first tried to unload the lease. Moreover, the property’s revenue last year fell by more than 60%. Then the hotel had continued to face financial setbacks. It included the pandemic’s impact on the luxury-hospitality industry. As well as the continuing damage to the former president’s brand following the 2020 election and January 6 insurrection.
Witch Hunt: Did the Trump Organization Really Violate State Law?
The Manhattan’s district attorney, Cyrus Vance Jr., has announced he was convening a grand jury as his office investigates whether the Trump Organization violated state law. This move with the hotel property comes one week after. In fact, the inquiry into Trump and his company’s finances is broad and been underway for more than two years.
Donald Trump: DC Hotel and Role in the Investigation
Did the DC hotel play a role in Vance’s investigation or a related investigation that is led by Letitia James. She is New York’s attorney general. In fact, the property has not been named in any public filings that are related to either case.
A bunch of properties are being investigated including the DC hotel named for the former president. That is what Vance is investigating.
Before he was elected in 2016, Trump did acquire the property. It is located in the Old Post Office. However, the hotel had become a hotbed for controversy during his presidency as Trump continues to own his businesses. This has prompted allegations of conflicts of interest.
Center of Lawsuits
At the center of lawsuits accusing Trump of violating the foreign-emoluments clause of the Constitution is the Trump International Hotel. It bars public officials from receiving gifts or cash from foreign or state governments without congressional approval.