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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump (the Company) Asks Trump (the Administration) for Hotel Relief
The presidents family business pays at least $3 million a year to the federal government for the lease on its D.C. hotel, which is all but empty because of the virus. The next monthly payment is coming due.
In recent weeks, the presidents family business has inquired about changing its lease payments, according to people familiar with the matter, which the federal government has reported amount to nearly $268,000 per month.
The Trump Organization owns and operates the luxury hotel, but it is in a federally owned building on Pennsylvania Avenue. As part of its deal to open the 263-room hotel, the company signed a 60-year lease in 2013 that requires the monthly payments to the General Services Administration.
Eric Trump, the presidents son, confirmed that the company had opened a conversation about possible changes to the terms of the lease, which could include adjustments to future monthly payments. The Trump Organization has said it is current on its rent.
The younger Mr. Trump said the company was asking the G.S.A. for any relief that it might be granting other federal tenants. The president still owns the company, but his eldest sons run the day-to-day operations.
https://www.nytimes.com/2020/04/21/business/trump-hotel-coronavirus.html
Newest Reality
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JustABozoOnThisBus
(23,340 posts)"Yes, me"
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Newest Reality
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