"Republicans' stronghold" will become history! During his tenure, he lost more than 70 million U.S. dollars and Trump sold hotels for 375 million U.S. dollars
[Global Times Special Correspondent Liu Haoran] CNN reported on the 15th that the Trump Group recently reached an agreement with an investment company to sell a "landmark-style" star hotel in the capital Washington, "Trump The "International Hotel" brand may become history.
The media speculated that this transaction was related to the "conflict of interest" involved in Trump's presidency and a series of investigations and legal disputes that he was involved in after leaving office.
The buyer of this transaction is the CGI Business Group in Miami, USA, which is involved in private equity investment and alternative investment businesses.
Insiders revealed that the two parties had started business talks as early as this fall, and the current agreed transfer amount was US$375 million.
According to the "Wall Street Journal" report, CGI has reached an agreement with Hilton Hotel Group to remove Trump's naming after the acquisition is completed, and transfer the property to Hilton's Waldorf Astoria Hotel for management and naming.
Since the hotel building itself is a federal government property, this transaction needs to be approved by the U.S. General Services Administration, and the review period is 60 days.
The US CNBC website stated that Trump International Hotel is the second tallest building in the US capital after the Washington Monument.
The hotel opened in 2016, and within a few months of business, Trump was elected president. The hotel quickly became a "check-in place" for political and business officials, and was also called "the base camp of Republicans" by some media.
According to the New York Times, the blurred line between Trump's political path and business operations has long been criticized by Congressional Democrats, who are accused of using the hotel for personal gain.
An investigation conducted by the U.S. House of Representatives Supervision and Government Reform Committee in October this year found that foreign government personnel spent more than $3.7 million in the hotel.
However, the investigation documents also show that due to the new crown epidemic and business factors, during Trump's four years as president, Trump International Hotel suffered a loss of more than 70 million U.S. dollars.
According to documents from the U.S. House of Representatives, Trump once claimed that his hotel brought tens of millions of dollars in profits.
Trump’s company began to rebuild and operate this old postal building in 2012 and spent $200 million to renovate it and transform it into a hotel with 263 rooms.
According to U.S. media reports, Trump and his company are currently under investigation for allegedly “defrauding loans.” U.S. prosecutors suspect that they intend to exaggerate the value of their properties and defraud them to obtain large loans. Trump himself denies commercial fraud.