Donald Trump

Donald Trump’s Washington hotel lost more than $ 70 million while he was president

Although his hotel was in financial trouble, Donald Trump reported that his hotel in Washington had more than $ 150 million in revenue while he was in office.
Although his hotel was in financial trouble, Donald Trump reported that his hotel in Washington had more than $ 150 million in revenue while he was in office.

The Washington hotel that belongs to former President Trump lost more than $ 70 million while he was in the White House , although it raised nearly $ 4 million from foreign governments, according to documents released by the House Oversight and Reform Committee. Representatives.

Although the hotel was in financial straits, in his financial reporting required by the federal government, Trump painted a different picture, reporting that his Washington hotel earned more than $ 150 million in revenue while in office.

The committee obtained the data from the General Services Administration (GSA), which leased the old federal Post Office building to Trump for nearly a decade, so that the former president could transform it into a hotel in luxury.

Documents show that Trump’s company told the GSA in 2017 that it would have to begin repaying the principal on its Deutsche Bank loan the following year. But in 2018, the company’s tax return said it wouldn’t have to start making principal payments until 2024.

This change is a sign that Trump received preferential treatment from the Germany-based investment bank.

Deutsche Bank spokesman Dan Hunter said there was no alleged special treatment, but added that he could not discuss the details of a customer’s loan agreement .

“The Committee’s letter makes several inaccurate statements about Deutsche Bank and its loan agreement,” he said.

Committee members Gerald Connolly and Carolyn Maloney wrote a letter to GSA Administrator Robin Carnahan, describing their findings and saying they deserve further investigation.

“Documents provided by the GSA raise new and troubling questions about former President Trump’s lease with GSA and the agency’s ability to manage the former president’s conflicts of interest during his tenure, when he was effectively on both sides of the contract. , as a landlord and tenant, ”Maloney and Connolly said in the letter, according to CBS.

It should be noted that Trump often claims that investigations into his businesses are politically motivated.

The Trump International Hotel is currently for sale.

Ben Oakley
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