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 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.
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.
“It’s cost me anywhere from $2 [billion] to $5 billion to be president … between what I lose and what I could have made,” Trump stated during a cabinet meeting at the White House.
“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.