It’s the end of an era.
Donald Trump‘s failing D.C. hotel is officially out of business after the ex-president completed the sale of the property to a Miami investor group yesterday, effectively marking the end of his family’s business presence in the nation’s capital.
CGI Merchant Group bought the 263-room property for a reported $375 million. Trump initially wanted $500 million for the place, but after sitting on the market for roughly two years with no interested buyers, he had to drop the price by $100 million… and then another $25 million.
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Related: Yet another one of Trump’s properties is in dire financial straits with no hope in sight
After the sale was finalized yesterday, the new owners moved quickly to sage and sanitize the premises. Onlookers reportedly cheered as a cleaning crew came out after dark to start ripping down all the Trump signage, starting with the tacky gold-plated family name plastered above the front doors.
Don’t cry because it’s over. Cry because it happened. pic.twitter.com/I0wDBM0A5Z
— Zach Everson (@Z_Everson) May 12, 2022
Last year, the House the Committee on Oversight and Reform revealed that, during Trump’s four years in office, the hotel racked up more than $70 million in losses, even though he claimed publicly that it made over $155 million. Not only that, but it received millions from foreign governments in payments and loan deferrals, which he didn’t disclose.
Related: Embarrassing news for Trump’s bankrupt Vancouver hotel and its “Spa by Ivanka”
In response to yesterday’s sale, Rep. Carolyn B. Maloney, Chairwoman of the Committee on Oversight and Reform, released the following statement that read:
Today’s sale is the latest in a long line of questionable deals, conflicts of interest, and constitutional violations involving former President Trump and his Washington, D.C. hotel. The former president will personally receive tens of millions of dollars in profits from selling his lease at a significant premium over market rates, yet the American public still does not know whose money is paying for this deal. It is unfortunate that the purchaser, CGI Merchant Group, chose to proceed with the purchase before answering the Committee’s questions, but we remain committed to getting answers and lifting the veil of secrecy on this transaction.
The hotel will be rebranded as a Waldorf Astoria and is scheduled to reopen later this year.
Here’s what people are saying on Twitter about the whole thing…
interesting that the Trump hotel just blocks down the street from the White House barely made it a year after he left office, since it was never about corruption or anything
— Aaron Rupar (@atrupar) May 12, 2022
Another video of a trump sign coming off a building
pic.twitter.com/UnxruRuGav— Molly Jong-Fast (@MollyJongFast) May 12, 2022
There were cheers from onlookers yesterday as construction workers used a cherry picker to remove the "Trump International Hotel" sign in DC – for good.
The ethics watchdog org CREW said: "The Trump Hotel in DC is no more. Good riddance to a sinkhole of corruption."— Duty To Warn ? (@duty2warn) May 12, 2022
The “Trump” in “Trump International Hotel” has been covered up. pic.twitter.com/YCAQpK3Bdi
— Andrew Leyden (@PenguinSix) May 12, 2022
I wonder if the sale price for Trump Hotel DC included the Jumbo Prawns sitting in the restaurant freezer. (He always had to have bigger shrimp in his shrimp cocktail than his guests, true story from annals of the world’s most fragile ego.) @GOP
— NoelCaslerComedy (@caslernoel) May 11, 2022
Signage on the Trump International Hotel in Washington DC being taken down. Investigating report that a commemorative plaque will be installed on the building acknowledging all the crimes that took place inside. pic.twitter.com/HUZzrpbdw4
— Mike Sington (@MikeSington) May 12, 2022
The new owners tore away the gilded wallpaper in the Trump Hotel and have found out that it's actually just a renovated Days Inn.
— vijay ?? (@SunnyDayCBay) May 12, 2022
Trump Hotel is no more. Waldorf Astoria signs have arrived. pic.twitter.com/ljb5mtxlRF
— Andrew Leyden (@PenguinSix) May 12, 2022
The history of Trump International Hotel DC as a going operation has now reportedly come to an end.
— Michael Beschloss (@BeschlossDC) May 11, 2022
Some footage from tonight of work being done on signs at the Trump International Hotel in DC after the Trump Org. closed on selling it to CGI Merchant Group pic.twitter.com/9cGmyKU7PJ
— Oren Oppenheim (@OrenOppenheim) May 12, 2022
Jim
Does anyone know when the exorcism is?
dougie
Just to be clear – the hotel wasn’t sold. It was the lease on the hotel that the trump organization sold. The property is owned by the U.S. government.
Essie
Yes. It was the old Post Office building. A truly beautiful building . . . before Dumpty ruined it. Hopefully, the new owners will care about the history and make it great again.
Heywood Jablowme
They should have taken the T down first, and left RUMP for a while, just for camera opportunities.
MISTERJETT
trump failed endeavors: Trump Steaks, Trump University, Trump airlines, Trump beverages, Trump the Game, Truth social media, Trump Casinos, Trump Magazine, Trump Mortgage, Trump Travel, Trump Vodka, Trump Comms, Trump marriages and a disastrously failed presidency. he’s just an all-around LOSER!!!!
white-queer-african
@MISTERJETT, I agree 1000% with your comment. LOSER of note. The problem is he could be back? God forbid. We need him, his spawn and enablers in jail before it is too late.
Essie
Don’t forget . . . SIX BANKRUPTCIES
Joshooeerr
It’s also worth remembering that there were many, many victims in each of those failures. The staff who lost their jobs, the suppliers who were never paid, the customers who were bilked. The man has left such a trail of debt and destruction that it’s astounding he still has so many wide-eyed fans who believe the billionaire genius bullshit.
MISTERJETT
wish he would go away as easily as that sign did.
Just.my.opinion
Wouldn’t it be absolutely wonderful if we never heard or saw the Trump name again – and never heard or saw any member of the Trump family?
Cam
The best part is, The building was not set up to be a hotel, so Trump and company spent all that money refurbishing it, still lost money, and now had to sell the lease.
The new group will have to spend far less since the structural changes are already there, and the first year or two of operations the Hotel will likely be booked by everyone who wants to give a big middle finger to Trump. lol
Beanie16
They may have spent money, probably paid the contractors since he was President but do you think they paid for the best contractors they could get or the ones that would do it the cheapest? The Waldorf chain is so far above the class and caliber of Trumps POS that they will probably end up having to redo everything
johncp56
See what happens when you are scummy! sticky! creep! you lose!! they should pile the signs up at Mar-A-Lardo
Mack
I don’t think Trump lost money, I think it’s unreported. He probably has two sets of books and pocketed the money. He had all kinds of “dignitaries” staying there and they charged a lot of money because they were promised an “audience” with Trump. (actually it was bribes but they haven’t proven that yet.)
Essie
I really don’t think he has two sets of books. That would take a lot of cunning and thought and smarts, none of which he has. He has been investigated by a lot of entities and so have his associates. Someone would have broken and told the authorities if there was a second set of books out there. No one is truly loyal to this fool. So, in spite of all the bribes from the “dignitaries” who stayed at the hotel, I don’t think it was enough money to cover the cost of the loans on that hotel.
hoosier1969
Here’s hoping he loses his building in Chicago too. I’ll celebrate the day his stupid name is ripped off that building!
ScottOnEarth
Everything trump touches fails and turns to sh*t. He is a born loser whose only true ability is to (somehow) fool enough unintelligent people to fall for his lifelong grift. His hideous adult children are just as repulsive and vile as he is.
Terrycloth
I watched the videos. I heard no cheering..if it was there must have been very low.
Brian
I was living in DC before and during the building’s transformation to a Trump property. This was so depressing. They took an amazing historical resource and turned it into something almost like a shopping mall. (The “hotel” had stores and a food court.) He cheapened it in a permanent way.