WASHINGTON – President Donald Trump’s Washington hotel has fallen well behind competing properties despite continuing to charge among the highest rates in the city, according to financial information provided to potential bidders as his company tries to sell the hotel’s lease. The hotel has become a center of Republican politics and a frequent stopping point for members of Trump’s cabinet and inner circle. But its guest rooms are running nearly half empty this year, according to the information, causing the 263-room luxury property – which opened on Pennsylvania Avenue weeks before Trump arrived in the White House – to fall short of the company’s own expectations. Marketing materials distributed by a real estate firm hired by Trump’s company say that a new owner, operating “unencumbered” by Trump’s name or his management company, could dramatically increase profits, particularly through a massive increase in business with foreign governments. The hotel “is organically positioned to market and solicit foreign government business” given its “unbelievable proximity to the White House, U.S. Capitol, Internal Revenue Service, Treasury, Department of Justice” and other offices, according to the marketing materials given to potential buyers by the firm, JLL, which was obtained by The Washington Post. The marketing… Read full this story
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