The Trump hotel in Washington, DC, to be sold and rebranded as a Waldorf Astoria
Editor's Note
The U.S. government has approved a lease transfer for the city's most famous buildings, which currently house the Trump International Hotel.
The U.S. General Services Administration (GSA) Friday announced it is signing off on a proposed transfer of the lease of the Old Post Office building to CGI Hospitality Opportunity Fund. According to the GSA, the Florida-based company plans to work with Hilton on redeveloping the property into a Waldorf Astoria Hotel.
The Old Post Office, a Romanesque Revival building just a short walk from the White House in Washington, D.C., currently houses the Trump International Hotel. With 263 rooms, the hotel opened in 2016, coinciding with former President Donald Trump accepting the Republican Party's nomination to run for president. It was popular with Republicans visiting the city during his presidency. Visiting diplomats also visited the hotel, with thousands of room nights paid for by foreign governments, creating a controversial conflict of interest during former President Trump's tenure.
The Trump Organization had been looking to sell the property since 2019. Back in November, TPG reported the company had planned to transfer the lease to the Miami-based investment company, CGI Hospitality Opportunity Fund, for $375 million.
While Trump insisted the hotel has been profitable during his association with it, recently the U.S. House Committee on Oversight and Reform's investigation determined the property had instead lost some $70 million since 2016.
With the GSA's confirmation Friday that the lease transfer will be allowed to move forward, and that the property is set to become a Waldorf Astoria Hotel, this means the historic building will now be accessible to visitors wanting to stay at one of the most luxurious brands in the Hilton portfolio. It also means Hilton Honors members will have the opportunity to to stay at a renowned building, close to the White House using points. The hotel will also rival the nearby Conrad which opened in 2019.
Related: Plush privacy on the Strip: A review of The Waldorf Astoria Las Vegas
Regardless of ownership or branding, the property remains a D.C. landmark, being that it's the tallest hotel and the second-tallest building in the city, second only to the Washington Monument.
Additional reporting by Sean Cudahy
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The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
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Cons
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- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
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- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month