Trump hotel lost US$70M despite millions in foreign business

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Former U.S. President Donald Trump's company lost more than US$70 million on his Washington, D.C., hotel during his four years in office despite taking in millions from foreign governments, according to documents released Friday by a congressional committee investigating his business.

The House Committee on Oversight and Reform said the luxury hotel just a few blocks from the White House was struggling so badly that the Trump Organization had to inject $27 million from other parts of its business and got preferential treatment from a major lender to delay payments on a $170 million loan.

"This report is nothing more than continued political harassment in a desperate attempt to mislead the American public and defame Trump in pursuit of their own agenda," the company said. "The documents ... 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 term in office when he was effectively on both sides of the contract, as landlord and tenant," the committee's Democratic co-chairs, Carolyn Maloney of New York and Gerald Connolly of Virginia, wrote in their letter.

Trump's company has been trying to sell the 263-room hotel since the fall of 2019 but has struggled to find buyers during the coronavirus pandemic at a reported initial asking price of more than $500 million.

 

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Trump doesn’t need hotels, he’s got a free room in a lot of people’s heads

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' Lost ' Sure Lol

CTVNationalNews I guess this is Donald Trump's vision of the great businessman.

Trump is becoming poor!

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