Trump will sell his DC hotel to Hilton after losing millions in profits

[turbinetree]

https://www.rawstory.com/trump-sell-dc-hotel-loses-profits/


Probably to pay for his future lawyers bills....

[Blue Owl]

1. It's been forever tainted and desecrated, bearing the tRump name

[RKP5637]

3. Most of his stupid ugly hateful followers probably could not even afford

lunch there.

[RKP5637]

2. Another Trump failure!!! n/t

[elleng]

4. Interesting.

*An investment firm whose investors include former Major League Baseball star Alex Rodriguez, CGI Merchant announced a fund last year in which it acquires hotels and partners with McLean-based Hilton Worldwide to operate them.

Hilton attempted to win the Old Post Office deal originally, partnering with a different investment group to turn the building into a Waldorf Astoria, but losing out when the GSA selected the Trump bid. Hilton did not immediately respond to a request for comment Sunday evening.'

https://www.washingtonpost.com/business/2021/11/14/trump-selling-dc-hotel/

Competency to run The Old Post Office Pavilion?

[spooky3]

5. He has the lease; he doesn't own the building. Nt

[Mike Nelson]

6. I think...

... his fans are very vocal... but still a minority. Probably not enough of them for hotels... They can still donate millions to keep Crooked Donald's toilet shiny and gold.

[monkeyman1]

31. U.S. GOVERNMENT own's the property !

he's bailing before indictments & the gao could cancel his lease & won't get jack shit !!

[FakeNoose]

37. Chump is holding the lease but it's government property

I remember reading that that Chump's company provided the management expertise. He has to put up money to keep the hotel going because lease payments are due and he's no longer making enough profit on it. It was just one more GRIFT among all the seedy, corrupt things he did while president.

[Walleye]

7. If he is giving up that hotel, he doesn't really believe he'll ever be back in office

If he actually believed he was going to be in the White House again, he would never sell that hotel

[paleotn]

11. Didn't have a choice....

I doubt he's got $170M in lose change lying around to cover his upcoming loan payoff. On top of that, he's hemorrhaging millions on damn near all his legit ventures. In short, he's probably having to fire sell assets to stay one step ahead of default. Hilton probably got a hell of a deal on his lease. Looks like "the kids" will inherit nothing but IOUs when he croaks.

[Walleye]

13. Well that is a comforting thought. I want to see the whole family destitute

[LiberalFighter]

38. Hopefully the kids have next to nothing for Social Security.

And they squander any retirement or investments.

[Maru Kitteh]

27. That was absolutely my first thought too, and I agree with you.

Broke or not, he would NEVER sell that thing if he planned on going back. He would sell everything except MaraLago and Ivanka to keep it afloat.

[Walleye]

28. He will be able to go on fleecing the chumps.Why would he want to run and just get beat again?

[wnylib]

39. He might not even give a damn about

running again. At this point, I think he just wants to control the Republican party in order to get revenge against his perceived enemies and keep the donations coming in through stunts like saying that he sent an envoy to Kosovo and duping his followers into thinking that he will run in 2024. He is angry enough to want to take the entire nation down with him so he will do as much damage as he can to democratic processes and institutions, but I don't think he has the stamina to cope with his legal battles and also run for office.

He's not any use to Putin and Russian oligarchs now, either.

Republicans also don't give a damn about him. They are just using him for the midterms

But his destructive tendencies are still dangerous.

[Walleye]

41. I agree with that analysis completely. Time will tell

[Budi]

8. Haaha. Another Trump Brand stripped of his name

NYC waves good riddance to another TRUMP brand.



Is this the one he bragged about when the Towers fell on 9/11?
"Now mine's the tallest?"

[wnylib]

40. No, this one is in DC.

[Budi]

42. Oh, I see. Thanks

DC.

[paleotn]

9. That's a weird headline...

millions in profits???

"after millions in losses" There. Fixed it for them. Who's writing these goofy headlines?

It's a money pit. Everything he touches is a money pit. Except money laundering. That must be the only thing keeping the wolves at bay now that he's not president. No money for lawyers on this deal. I doubt he'll break even. In fact, he'll probably recoup nothing other than getting out from under the upcoming loan repayment.

...but I do like this line from the Forbes article "There are a lot of ways to lose money every year that don't require investing $370 million upfront." What a maroon.

[CatWoman]

17. that's in the body of the story

Trump leased the hotel for $250,000 a month for the next 60 years, but that lease will be broken with the agreement to fork over the property after years of profit losses.

[paleotn]

21. Strange wording.

Seems there's no profits to be found or lost. It's just garden variety spending more than you take in, better known as losses.

[PatSeg]

24. That seems to happen a lot lately

It is like androids are writing the headlines.

[ProfessorGAC]

48. Agreed!

The article is clearer, but the headline is screwy.

[lpbk2713]

10. He'll blame Obama and the Dems.

He'll never stop bullshitting. It's in his blood.

[malaise]

12. So he knows he's finished

That is all

[Walleye]

14. That was my thought. We gotta watch what he does,not what he says

[Budi]

15. Walls are closing in. Waiting for a fire sale on Mar a Lago

You know the vulture caps are already circling what's left of his proprties.
Would be cool of the IRS siezed Mara Lago the day he's indicted

If anyone deserved such a fall, it is Donald Trump.

[malaise]

16. If so many Dems didn't live in that area

I'd wish him a Cat5

[Budi]

18. Maybe we could use a sharpie to make it land only on Maralago.

😏

[malaise]

19. The more I think about his sharpie hurricane is the more I know he's a sociopath

No government agency was safe from that fool - not NOAA, not CDC.

[Budi]

22. Nope. NOBODY was safe from his sociopathy

History will tell the truth about him.

[keithbvadu2]

23. Would be interesting to see the anticipated cash flow in the sales prospectus now that other countri

Would be interesting to see the anticipated cash flow in the sales prospectus now that other countries, political sycophants and corporate supporters do not need to curry Donald's favor by renting blocks of rooms that never got used.

[Maru Kitteh]

25. He has no intention of returning to that town.

If he thought he was going to return to the White House, he would keep it for the prestige and so he could resume/accelerate the practice of funneling foreign money into his pockets.

[keithbvadu2]

26. Originally asking $500 million?

Originally asking $500 million?

[WarGamer]

29. It's a magnificent old building...

The former post office...

To be honest there's ONE sign that says TRUMP and it's not even very big.

Hilton SCORED.

[nattyice]

30. Better start the fumigation...

[IronLionZion]

32. Dude is broke and his name is worthless

[Marius25]

35. Sadly 74 million idiots still think his name means something

and still support him.

[WarGamer]

43. Wish I was broke like that...

Forbes has his NW at $3.5B

And don't forget... the SPAC that announced the merger with Trump Media and Technology Group is currently valued at $2.1B and it's estimated that Trump owns 50% of the shares.

[IronLionZion]

47. It's a house of lies

Their valuation is out of date and based on the Trump brand, which has lost value because of his presidency.

Tiffany is the wealthiest Trump.

[ProfessorGAC]

49. Forbes Is Wrong

Forbes ignored the 2018 Moody's Creditworthiness review, which proved asset overvaluation & debt load understatement, BEFORE the Chinese & Russian loans were public knowledge. Their estimate is not to be trusted. They used public statements from the TO to estimate net worth when the Moody's numbers were readily available.
At that time, the TO net value was shown to be under $1 billion, and the two aforementioned loans total at least $600 million.
At best, the net value is half of what the TO was worth when he took full control, and at worst near net zero.

[monkeyman1]

33. better check for bed bug's ! been known to happen !

[pbmus]

34. Lawyers and loans to payoff...🎻

[Upthevibe]

36. Kick. N/T

[taxi]

44. Deja vu and embassies too

It may take some time to get the bugs out of the building.

U.S. Finally Opens Moscow Embassy / Building was delayed 15 years after Russians riddled it with bugs

2000-07-08 04:00:00 PDT Moscow -- The first time around, the new American Embassy building in Moscow was like a giant Soviet antenna, a monument to the ingenuity of the KGB and a constant and embarrassing reminder to the United States of a skirmish lost in the hard-fought Cold War

https://www.sfgate.com/news/article/U-S-Finally-Opens-Moscow-Embassy-Building-was-2714015.php

[Vinca]

45. Taking the name off the place is going to break speed records.

[honest.abe]

46. This makes me think he knows the FBI relocation is going to happen.

Trump blocked the FBI relocation plan back when he was in office. Everyone knows it was because he feared competition from a 5 star hotel replacing the old FBI building.