In November 2020, the company suspended attempts to sell lease rights due to the lack of those willing to invest $500 million in this.
The Trump Organization, owned by the family of former US President Donald Trump, has again put up for sale the lease rights to the Trump International Hotel in Washington. This was reported by The Washington Post, citing sources.
In November 2020, the Trump Company suspended indefinitely attempts to sell lease rights due to the complete lack of people willing to invest the requested $500 million.
As the newspaper notes, the hotel has recently suffered financial losses both due to the coronavirus pandemic and because the brand is associated with the name of the former president, whose policy had many opponents. Thus, The Washington Post notes that many representatives of the liberal public, business, as well as foreign clients, for ideological reasons, refuse to stay in a Washington hotel associated with the name of the former head of the White House. The post office building, located on central Washington Boulevard, built more than 120 years ago, was converted for $210 million for the Trump International Hotel. The building is owned by the federal government and leased to the Trump Organization, which has pledged to pay $3 million annually for the next 60 years.