Trump reportedly selling his D.C. hotel for $375 million

President Donald Trump is selling his flagship Washington hotel for at least $375 million, Reuters reports, a sale that will give the brand a significant flush and put it on sound financial footing. Real…

Trump reportedly selling his D.C. hotel for $375 million

President Donald Trump is selling his flagship Washington hotel for at least $375 million, Reuters reports, a sale that will give the brand a significant flush and put it on sound financial footing.

Real estate investment bank CBRE Group Inc. is doing the deal for the 606-room luxury hotel, according to Reuters. The Trump Organization is planning to keep operating the hotel under its own name but will have the option to sell the franchise to a third party. It was not immediately clear when the sale would close.

The property is located on Pennsylvania Avenue and enjoys prime access to both the White House and Capitol Hill. It’s across the street from the U.S. Holocaust Memorial Museum and just blocks from the White House.

The Trump Organization purchased the hotel in a $127 million deal in 2012 from the Federal Deposit Insurance Corp.

The move comes after the Trump Organization struggled to rent the hotel in Washington to commercial businesses and suffered money-losing bookings for several high-profile events. It has been unprofitable since he became president, Reuters reported.

Besides the Trump International Hotel, the Trump Organization runs two golf courses in Virginia and Maryland. It also owns some real estate that has been converted into condo complexes in Trump’s name, although the company has always disowned it.

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