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
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app