The Trump International Hotel in downtown Washington D.C. just sold for a record $350 million
The former postal office turned Trump brand hotel, located in downtown Washington D.C., sold to the CGI Merchant Group investment group for 350 million dollars, setting records both for the highest price-per-key ever achieved in the District of Columbia and for the largest sale of a historic hotel in over 15 years.
A beautiful landmark building, the Trump International Hotel was transformed from an old post office into downtown D.C.’s only Forbes 5 star hotel in just three years, and has been awarded many #1 awards and designations.
The CGI Merchant Group, based in Miami, reportedly plans to convert the hotel over to the Hilton Corporation’s Waldorf Astoria brand.
While critics of President Trump believed that the Trump brand would be damaged by all of the slander and libel lobbied against him, the success of this hotel, and the ability to sell it for such a substantial profit, serves as proof to the contrary. If anything, President Trump and his family’s brand are as strong as ever as they continue to turn profit and make successful business decisions. This sale alone, of a largely profitable hotel, is estimated to bring in additional profit of $100 million.
This chapter of the hotel’s story may be over, however the beautiful building did wonderfully under the Trump brand in their pursuit of excellence. The new owners will find themselves left in a great position due to the reputation the building has accumulated under the Trump family’s ownership.