Trump DC hotel boosted rates after inauguration

Trump DC hotel boosted rates after inauguration

Donald Trump is fighting multiple lawsuits over his ownership of the nine-month-old Trump International Hotel in D.C., but at least all that constitutional controversy isn't hurting the president's bottom line. But for about an extra $150 a night, the hotel goes a step beyond, allowing guests to peddle influence with Donald Trump, who now inhabits the Oval Office.

The Trump International Hotel, in the opulently renovated Old Post Office near the National Mall, brought in about $18 million in revenue in the first four months of 2017, in part by charging room rates that were 60 percent higher than what had been planned, according to documents viewed by the Wall Street Journal, which first reported the story.

The extravagant Washington, D.C., hotel bearing the name of President Donald Trump took home almost $2 million in profits this year, according to financial reports from its management company seen by multiple media outlets.

The hotel is profitable despite a "44.4% occupancy rate compared with 69.5% for comparative hotels". The hotel had projected its average daily rate would be $416, the Journal reported.

The hotel has raised questions about whether Trump is using the presidency to benefit the hotel and his other businesses, although he's officially put sons Don Jr. and Eric Trump in charge of the hotel. Since then, prominent political figures have been seen visiting and staying at the hotel, including members of Trump's Cabinet.

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The watchdog group Citizens for Responsibility and Ethics in Washington alleged in January that Trump was violating the hotel's lease by not divesting from his company.

"What makes all of this particularly galling is that we now have the unprecedented situation where the President of the United States is both the landlord and tenant of a federal building", Rep. Peter A. DeFazio said in a statement.

Trump denies that it poses any conflict of interest issues.

The hotel is leased by the Trump Organization from the federal General Services Administration (GSA). The records include financial numbers the company projected and the actual financial numbers.

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