Trump Hotel DC Has Profited Nearly $2 Million This Year

AL DRAGO  NYT

The industry average is $495.91 for comparable hotels, the Journal noted.

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 Trump Organization expected the hotel to lose $2 million in the first four months of 2017.

"The Trump International is, if not the, then one of the top rate-getters in the city", Marc Magazine, an executive at the real estate firm Savills Studley told the Post, which cited data from the U.S. General Services Administration, the building's public landlord, on Friday.

Government ethics experts and Democrats in Congress have railed against the government's lease, with Rep. Peter A. DeFazio (D-Ore.) calling it a "highly unethical arrangement". The Journal states the seemingly obvious: "The fact that hotel rates were substantially above the budgeted amount and above area rates indicates that Mr. Trump's presidency likely played a role in the performance".

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.

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Of his 202 days in office, Trump has spent 65 days at his properties, a lot of them at his golf properties.

The hotel's management has pledged to donate proceeds from foreign officials to the U.S. Treasury, but at the same time, the Department of Justice (headed by Jeff Sessions, one of Trump's earliest congressional supporters) has ruled the emoluments clause doesn't apply to fair market commercial transitions.

The Post noted that Trump has spent time at his private businesses' properties on 65 of his 202 days in office thus far, almost one-third.

Trump International visitors have spent $8.2 million on food and drinks so far at the hotel this year, beating expectations by 37.2 percent.

Trump and the Trump Organization have denied any wrongdoing.

Even though the hotel is rarely occupied, as in an average of 42% of rooms are unoccupied, its still managed to post an enormous profit.

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