Home PoliticsPolitical News Trump completes the sale of the Washington hotel to an investment group

Trump completes the sale of the Washington hotel to an investment group

by YAR

But some guests with reservations at the hotel, who called and were told they were canceling, expressed frustration. “They’re just ripping everyone off,” said Jayson Woodbridge, the famed California winemaker who was booked for a week’s hotel stay for his daughter’s graduation in the area.

Mickael Damelincourt, the hotel’s longtime manager, moved from table to table to greet some of the regulars in the lobby bar, stopping to take photos with several of them ahead of the hotel’s sale. The BLT Prime restaurant on the property had already closed permanently, as had the Ivanka Trump spa, and the hotel was no longer accepting room reservations.

Just days before the sale closed, the Trump Organization and Mr. Trump’s 2017 inauguration committee agreed to settle a lawsuit brought by Karl A. Racine, the attorney general for the District of Columbia, who had claimed that the hotel had illegally received overpayments from the opening committee, totaling more than $1 million.

The settlement in the civil suit came without admission of wrongdoing by the Trump Organization, the former president or the inaugural committee.

Those claims were among many allegations in various lawsuits that Mr. Trump improperly profited from the presidency through payments made to the hotel by, among others, foreign lobbyists and governments, including lawsuits by the state of Maryland and Democratic members. of Congress citing emoluments. provisions of the Constitution, which prohibit federal officials from accepting financial benefits from foreign governments without the approval of Congress.

The Trump family has paid the federal government a base rent of $3 million a year for the Old Post Office building, under its 2013 lease. The sale will net the family about $100 million, once it is completed. pay off a loan taken out to pay for renovations, according to estimates by House Democrats.

The contract with the federal government that the Trump Organization signed requires the company to share part of its profits with the government if the hotel is sold. But a Trump Organization executive said the way the lease, which allowed the Trump family to earn a 20 percent annual rate of return on capital invested in the hotel project, was drafted meant it was not There was likely to be a lot of that profit sharing.

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