(LibertySociety.com) – Before and during his time in the White House, former President Donald Trump’s organization purchased a 60-year lease of a nearby hotel from the federal government. On November 14, reports showed the Trump Organization sold the remainder of the Washington, DC hotel’s lease to the CGI Merchant Group from Miami, Florida. According to sources, the investment firm has a deal with Hilton Worldwide Holdings, Inc. to rebrand the property as a Waldorf Astoria, removing the Trump name.
CGI Merchant Group agreed to pay the Trump Organization $375M for rights to the 263-room hotel and plans to rebrand it as a Waldorf Astoria, according to The Wall Street Journal & The New York Times, citing anonymous sources with knowledge of the matter. https://t.co/UQZfVrv4QO
— WILX News 10 (@wilxTV) November 15, 2021
In October, the CEO of Lodging Advisors in New York, Sean Hennessey, said the new owners would likely seek a new identity for the luxury property to separate it from its political past.
During Trump’s tenure on Pennsylvania Avenue, the hotel was the site for many Republican gatherings. That fact allegedly kept other businesses away from the property. If what analysts say is true, the Hilton Waldorf Astoria group may try to create its own image to attract a wider client base.
Although the multimillion-dollar property will be under new management, a spokeswoman said the House committee would continue investigating any alleged “conflicts of interest and potential constitutional violations” committed by the former POTUS while leasing and operating the hotel during his time in office. The Trump Organization reportedly sold the remaining lease for $375 million.
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