A Florida finance group buys the lease rights to the Trump Hotel in Washington DC for $ 375 million.
The Wall Street Journal reports.
The CGI Group from Miami therefore wants the hotel to be operated by the Hilton hotel group under the name Waldorf Astoria.
This means that the Trump brand name is disappearing from the opulent guest house, which is just a short walk from the White House.
Winand von Petersdorff-Campen
Business correspondent in Washington.
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The Trump Organization had leased the building from the federal government on a long-term basis, with options for extensions of up to 100 years. The building used to house the post office, but was not used commercially for many years. Former President Donald Trump's family business converted the property into a luxury hotel for around $ 200 million. It had prevailed in a bidding competition even before Donald Trump went into politics. The opening in 2016 coincided with the presidential election campaign.
Democratic-ruled committees in the House of Representatives are investigating whether Trump used his position as president to fill the hotel.
It was a meeting point for Republican politicians, lobbyists, and occasionally foreign statesmen and women.
According to congressional documents, the hotel has lost $ 70 million since it was founded, which the Trump Organization denies.