Spike In Rates At Trump DC Hotel Helped Reverse Expected Losses

Kristopher Drake
August 12, 2017

While the hotel had projected its average daily room rate would be $416, it ended up charging $660.28 on average from January to April, the Journal reported, citing the financial records.

Experts interviewed by The Post said that the Trump International Hotel is now the most expensive hotel in Washington - partly because it has become a prestigious meeting ground for high-profile conservative leaders from around the world.

The Trump International Hotel in DC has brought in nearly $1.97 million in profit since the start of 2017, the Washington Post reported Friday.

The Trump Organization had projected it would lose $2.1 million during the first four months of 2017 as it established a new hotel and convention business in the nation's capital, according to newly released federal documents.

It's not the only Trump property that has benefited financially from its namesake's presidency. And as The Wall Street Journal points out, the hotel also received a higher-than-normal portion of its revenue from food and beverages.

Trump himself has made occasional appearances at the property since taking office. Before Donald Trump won the presidential election a year ago, the Trump Organization estimated the hotel would lose money in 2017 as it invested in growing its start-up hotel and convention business.

The only divisions of the hotel that didn't churn a profit were retail, parking, and the Spa by Ivanka Trump.

"The Trump International is, if not the, then one of the top rate-getters in the city", said Marc Magazine, an executive at the real estate firm Savills Studley.

Trump and the Trump Organization have denied any wrongdoing. It posted an occupancy rate of 42.3 percent, compared with almost 70 percent in the industry.

Critics, including government ethics experts and members of Congress, say the president's refusal to divest from his family's sprawling business has created a minefield of conflicts of interests.

The Journal on Friday based its report on hotel records that were briefly posted online Thursday by the General Services Administration - the government agency that, despite Trump's control of it as President, serves as the Trump hotel's landlord - with financial data included.

Other reports by Ligue1talk

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