Reports: Trump selling DC hotel to investment firm for $375M

KIFI

Published November 15, 2021 7:05 AM

The Associated Press

WASHINGTON (AP) — Donald Trump’s opulent hotel near the White House that drew lobbyists and diplomats seeking favor with the ex-president is being sold to a Miami investment group. That’s according to published reports citing anonymous sources. The reports say CGI Merchant Group has agreed to pay the Trump Organization $375 million for the rights to the 263-room hotel and rebrand it as a Waldorf Astoria. The deal is more than $100 million less that the Trump family reportedly tried to get for Pennsylvania Avenue business two years ago before the coronavirus pandemic.

Article Topic Follows: AP National Business

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Associated Press

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