The Trump hotel in Washington, DC, to be sold and rebranded as a Waldorf Astoria
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One of the most famous hotels in the U.S. capital will be sold, with great news for points and miles enthusiasts.
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The lease for the Trump International Hotel in Washington, D.C. — a historic Romanesque Revival building just a short walk from the White House — is expected to be sold to Miami-based investment company CGI Merchant Group for $375 million.
According to the Wall Street Journal, the property (formerly the Old Post Office building) will be rebranded as a Waldorf Astoria, one of the most luxurious brands in the Hilton Honors portfolio, and managed by Hilton Worldwide Holdings Inc. It will rival the nearby Conrad, which opened in 2019.
The 263-room hotel opened in 2016, coinciding with former President Donald Trump accepting the Republican Party nomination to run for president. It was popular with Republicans visiting the city during his presidency.
The hotel has also been popular with visiting diplomats, 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 has been looking to sell the property since 2019, though it briefly paused that effort during the pandemic. 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.
The sale of the lease, which has around 50 years remaining, is subject to government approval, as the property is owned by the U.S. government. The deal is expected to be finalized in early 2022.
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.
Featured image by tzido / Gettys
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