Former US President Donald Trump is in talks to sell his hotel in Washington DC.
Trump will sell the right to rent the historic hotel – which was a focus in his political wars with his opponents during his presidency – to a real estate developer, who in turn will negotiate with hotel companies that can manage the building and change its name, pointing to The terms of the agreement are not yet known, but it is certain that Trump’s representatives are in talks with hotel chains and large investors.
The sources added that, in return for selling the hotel, he would get less than $500 million, which he was seeking during the 2019 sale attempt.
Trump refused to comment on this matter, which made it clear that removing Trump’s golden name from the building located on Pennsylvania Avenue would be a “bomb” in the interest of his opponents.
Trump’s hotels and resorts were severely affected by the outbreak of the Covid-19 epidemic and the closures that hit the hotel industry, and their damage increased after Trump lost his lustre by losing the presidential elections, last year.
After Trump left the White House, the Washington Post confirmed that the hotel on Pennsylvania Avenue was owed a $170 million loan, and its revenues were down 60 per cent from the previous year.