Emoluments watch: Trump's DC hotel spiked rates shortly after his inauguration

Guests have paid an average of $652.98 a night to stay at the Trump International Hotel in Washington DC. That probably makes it the most expensive hotel in the city according to industry experts

The extravagant Washington, D.C., hotel bearing the name of President Donald Trump took home almost $2 million in profits this year, according to financial reports from its management company seen by multiple media outlets. But room rates don't tell the whole story: The hotel made $8.2 million on food and drinks, which was 37% higher than projections and accounted for more of the revenue than a non-convention-center hotel typically sees, per analysts. As Trump engages in a disturbing war of words/glorified penis-measuring contest with Kim Jong-un, the Washington Post reports that the Trump International Hotel in Washington, D.C., "has become a financial juggernaut", according to the story's reporter, charging more than nearly any other D.C. hotel (about $650 per night) and drastically outperforming expectations to earn $19.7 million through April 15.

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

The only divisions of the hotel that didn't churn a profit were retail, parking, and the Spa by Ivanka Trump. 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". Before Donald Trump won the presidential election past year, the Trump Organization estimated the hotel would lose money in 2017 as it invested in growing its start-up hotel and convention business.

"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.




Of his 202 days in office, Trump has spent 65 days at his properties, majority at his golf properties.

Trump himself has made occasional appearances at the property since taking office. "President Trump now both owns the lessee, Old Post Office LLC, and controls the lessor, GSA, whose administrator is appointed by and serves at the pleasure of the president".

Trump denied there are any ethical issues, though the hotel has become a hot spot for Trump operatives, White House staffers, lobbyists and foreign governments. It had an occupancy rate of 44.4 percent, versus an average 69.5 percent occupancy rate for comparable hotels.

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