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Trump sells Washington hotel to Miami-based investor group

KIFI

By BERNARD CONDON
Associated Press

NEW YORK (AP) — The lease to the Washington hotel run by Donald Trump’s family company while he was president has been sold to a Miami-based investor fund. The Trump Organization said Wednesday that it has completed the sale of rights to run the Trump International Hotel to CGI Merchant Group of Miami for what it described as a record price per room for the city. Sources close to the deal demanding anonymity to discuss the private transaction have said the price was $375 million. The hotel had been a magnet for lobbyists and GOP politicians during Trump’s presidency as well as controversy and lawsuits. The new owners plan to rebrand the building a Waldorf Astoria.

Article Topic Follows: AP National Business

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