Trump Hotel DC Has Profited Nearly $2 Million This Year

Trump's DC hotel has made $4 million more than his company expected this year

A Hotel Down the Street From the White House Made a Lot of Money This Year

From January to April, the average daily room rate was $660 compared with $495 for similar hotels, according to the documents.

While Trump and his daughter/advisor Ivanka Trump have (supposedly) stepped away from day-to-day operations at the Trump Organization, turning leadership over to large adult sons Donald Jr. and Eric (both of whom are regulars on Fox News, hmm), both the president and Ivanka retain stakes in the new D.C. hotel, ensuring they can, indeed, eventually reap the financial benefits.

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.

Driving the profits are the extraordinary prices guests have been willing to pay for rooms, including members of Trump's Cabinet who have stayed or lived there, as well as big spending on food and beverages in the meeting areas, bar and restaurant - spots frequented by members of Trump's inner circle and other Republican leaders.

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The Trump Organization signed a contract in 2013 with the federal government to lease the historic post office and turn it into an upscale hotel near numerous capital's most famous landmarks, including the White House. Rep. Peter DeFazio (D., Ore.) called the arrangement "highly unethical".

The hotel has also become a point of controversy for the president, with ethics watchdogs questioning whether Trump is using the presidency to drum up business at the hotel.

Critics of the president believe this is proof that Trump is profiting from the presidency. The hotel the analyst is referring to is the recently opened Trump International Hotel in Washington, DC, which has this year logged an occupancy rate of 42.3%.

"The Trump International is, if not the, then one of the top rate-getters in the city", said Marc Magazine, an executive at the real estate firm Savills Studley. The GSA owns the lease to the Old Post Office, the building which was later developed into the Trump International Hotel. The federal government collects $3 million in annual rent from the Trump Organization for the hotel.

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