President Donald Trump’s company, the Trump Organization, said it is looking to sell its hotel in Washington, D.C.
In a statement on Friday, Trump’s son, Eric, confirmed the company is exploring the sale of the building
“Since we opened our doors, we have received tremendous interest in this hotel and as real-estate developers, we are always willing to explore our options,” Eric Trump, the Trump Organization executive vice president, told the Wall Street Journal on Friday.
“People are objecting to us making so much money on the hotel, and therefore we may be willing to sell,” he continued.
The exterior of the Trump International Hotel in downtown Washington, D.C. (AP Photo/Pablo Martinez Monsivais)
The Trump Organization leases the building, the Old Post Office Pavilion, from the federal government’s General Services Administration, the Washington Post reported, adding that the terms of the contract allow for the sale of the lease under certain conditions.
Real estate company JLL was hired to market the Trump International Hotel, the Journal also reported. The hotel could sell for as much as $500 million, the report also said.
After Trump won the presidency, his two sons, Eric and Donald Trump Jr., have managed the business.
Morning traffic flows past the Trump International Hotel on its first day of business on Sept. 12, 2016 in Washington. The Trump Organization was granted a 60-year lease to the historic Old Post Office by the federal government before Trump announced his intent to run for president. (Chip Somodevilla/Getty Images)
An exterior view of the entrance to the new Trump International Hotel at the old post office in Washington on Oct. 26, 2016. (Gabriella Demczuk/Getty Images)
The Trump International Hotel opened in 2016 and has hosted foreign governments, Democrats in Congress, state attorneys general, and government watchdog groups, as noted by the Washington Examiner.
Some have claimed that Trump is violating the U.S. Constitution’s emoluments clause, which bars presidents from taking money or gifts from foreign governments.
Earlier this week, on Oct. 24, the president said that the job has cost him billions of dollars in lost revenue and missed deals.
“I would’ve made a fortune if I just ran my business—I was doing it really well,” he added, according to Fox Business. Later, Trump said he doesn’t regret the move.
“If I had it to do it again I would do it in an instant, because who cares, if you can afford it, what difference does it make?” he told reporters, according to Reuters.
Jack Phillips is a breaking news reporter with 15 years experience who started as a local New York City reporter. Having joined The Epoch Times' news team in 2009, Jack was born and raised near Modesto in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
