REPORT: In First Two Months of Operation, Trump’s DC Hotel Lost More Than $1.1 Million
According to documents obtained by House Democrats from the General Services Administration, the much-discussed Trump International Hotel in Washington, D.C. fell well below its revenue projections in its first two months of operation.
Per the docs provided to the Democrats, the hotel pulled in revenue of $1.3 million in September and $2.8 million in October. The projections for the hotel’s first two months were $2.1 million and $4.3 million, respectively, showing a shortfall of $2.3 million.
In terms of profits, the hotel projected that it would lose $84,000 in September and make a $481,000 profit in October. Instead, the project lost $334,000 its first month and $825,000 the second month for a total loss of $1.1 million.
The hotel has become something of a symbol for ethics experts who feel that President Donald Trump hasn’t done enough to separate himself from his business interests and could potentially be in violation of the emoluments clause of the Constitution.
Trump’s hotel leases the space from the GSA despite the lease stating that no government official can be involved in the contract. Also, many diplomats and foreign officials have been booking events and rooms there since Trump’s election, bringing up various conflict of interests concerns and emolument violations.
During his inaugural parade, Trump first got out to walk right in front of the hotel, which was on the route and is only a few blocks from the White House.
[image via screengrab]
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