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BumRushDaShow

(129,096 posts)
Fri Oct 25, 2019, 12:59 PM Oct 2019

Trump Organization to consider sale of D.C. hotel lease, sources say

Source: Washington Post



President Trump's company is considering selling the lease of its D.C. hotel, according to two people familiar with the discussions. The people, who spoke on the condition of anonymity to discuss plans they were not permitted to make public, said the Trump Organization had hired the firm JLL to market the project.

Trump's D.C. hotel has been a center of controversy since he entered office because Trump continues to own his business, which runs properties including the hotel, leading to charges of conflict of interest. Several lawsuits have alleged that Trump is violating the Constitution's ban on "emoluments," or payments by foreign governments, due to visits by foreign government officials to the hotel.

The company leases the building, the Old Post Office Pavilion, from the federal government's General Services Administration, but the terms allow for the sale of the lease under certain conditions.

The Trump Organization did not immediately respond to requests for comment. The Wall Street Journal first reported the possible sale. Eric Trump told the newspaper that, "People are objecting to us making so much money on the hotel, and therefore we may be willing to sell."

Read more: https://www.washingtonpost.com/business/2019/10/25/trump-organization-consider-sale-dc-hotel-lease-sources-say/



Original article and headline -

The Trump Organization is considering selling its D.C. hotel business, according to people familiar with the discussions

By Washington Post Staff
Oct. 25, 2019 at 12:56 p.m. EDT

The company has hired a real estate firm to market the Trump International Hotel, which it leases from the federal government, two people familiar with the discussions say. The hotel has been at the center of allegations and lawsuits claiming the president is violating the Constitution's ban on "emoluments," or payments from foreign governments.

This is a developing story. It will be updated.

https://www.washingtonpost.com/news/politics/wp/2019/10/25/the-trump-organization-is-considering-selling-its-d-c-hotel-business-according-to-people-familiar-with-the-discussions/


NYT just broke this story too because apparently the WSJ had it.

ETA -

to mahatmakanejeeves for tweet that has a link to the original WSJ article -



TEXT

David Enrich

@davidenrich

Woah. Trump Org is looking to sell its DC hotel, according to Eric Trump. by @CraigKarmin https://www.wsj.com/articles/trump-organization-exploring-sale-of-marquee-washington-hotel-11572019874

The Trump Organization is exploring a sale of the rights to the company’s opulent Washington, D.C., hotel, a move it says is motivated partly by criticism that the Trumps are flouting ethics laws by...
wsj.com
12
12:20 PM - Oct 25, 2019
38 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Trump Organization to consider sale of D.C. hotel lease, sources say (Original Post) BumRushDaShow Oct 2019 OP
Well good luck with that! elleng Oct 2019 #1
Trump's name has been removed from 2 NYC Central Park ice rinks. displacedtexan Oct 2019 #2
cash enid602 Oct 2019 #3
I think he's hemorrhaging money. He needs to get a large amount of cash from somewhere. SharonAnn Oct 2019 #22
www.call-a-russian-oligarch.com YOHABLO Oct 2019 #36
What do you want to bet Mr.Bill Oct 2019 #4
Cutting his losses. Wellstone ruled Oct 2019 #5
They're afraid. NurseJackie Oct 2019 #6
... demmiblue Oct 2019 #7
Trump Organization Seeking To Sell Flagship DC Hotel mahatmakanejeeves Oct 2019 #8
Thank you!!! BumRushDaShow Oct 2019 #11
Vlad offers a barter ... to give Donald some of Syria ... no problem making sand traps ... Jarqui Oct 2019 #9
The Trump Organization is exploring a sale of its landmark Washington, D.C., hotel, partly over.... mahatmakanejeeves Oct 2019 #10
Maybe it is a good idea to start a tRUMP Retirement Go-Fund-Me as an incentive to make abqtommy Oct 2019 #12
"People are objecting to us making so much money on the hotel" You mean the Constitution? flibbitygiblets Oct 2019 #13
"People are objecting to us making so much money...therefore we may be willing to sell" thesquanderer Oct 2019 #14
KICK Hekate Oct 2019 #15
The Trump Organization is not making as much money as expected. Lonestarblue Oct 2019 #16
Does their lease allow them to do this? Retrograde Oct 2019 #17
Womp womp womp Yo_Mama_Been_Loggin Oct 2019 #18
No doubt this will be the epicenter of his next ToxMarz Oct 2019 #19
THIS BumRushDaShow Oct 2019 #23
So dim son is admitting..... dawnie51 Oct 2019 #20
FBI is still waiting Corgigal Oct 2019 #21
It's getting cash flow because countries/conservatives curry favor with Trump. keithbvadu2 Oct 2019 #24
Maybe they will hold it here- BumRushDaShow Oct 2019 #25
OMG, not The Onion! klook Oct 2019 #28
Yup and not Borowitz either! BumRushDaShow Oct 2019 #29
Probably they will "sell" it to a Scarsdale Oct 2019 #26
It's a federal government building that they are leasing so they can't "sell" any building BumRushDaShow Oct 2019 #27
The place is probably loaded with bedbugs. Talitha Oct 2019 #30
Yeah sure ya betcha... Faux pas Oct 2019 #31
Selling the "Washington Emolument"??? The_jackalope Oct 2019 #32
Someone should buy it and name it that. Would probably be a great tourist draw! yellowcanine Oct 2019 #34
What brand would want to pay good money for it now? Fritz Walter Oct 2019 #33
And what would they do with all of the cheesy gilded decor? yellowcanine Oct 2019 #35
Emirates... getagrip_already Oct 2019 #37
Turkey might buy it. For ten times its value. JustABozoOnThisBus Oct 2019 #38

displacedtexan

(15,696 posts)
2. Trump's name has been removed from 2 NYC Central Park ice rinks.
Fri Oct 25, 2019, 01:02 PM
Oct 2019

Liquidation sale in preparation to flee the scene (USA) of the crimes?

Mr.Bill

(24,303 posts)
4. What do you want to bet
Fri Oct 25, 2019, 01:03 PM
Oct 2019

they are way behind on the lease payments?

In fact, I'd be willing to bet they have never made a payment.

mahatmakanejeeves

(57,489 posts)
8. Trump Organization Seeking To Sell Flagship DC Hotel
Fri Oct 25, 2019, 01:14 PM
Oct 2019
Trump Organization Seeking To Sell Flagship DC Hotel
October 25, 2019

The Wall Street Journal reports:

The Trump Organization is exploring a sale of the rights to the company’s opulent Washington, D.C., hotel, a move it says is motivated partly by criticism that the Trumps are flouting ethics laws by profiting from the property.

President Trump’s family business has hired the real estate firm JLL to market the Trump International Hotel, Eric Trump, an executive vice president at the Trump Organization, told the Wall Street Journal on Friday.

-- -- -- -- -- --

Woah. Trump Org is looking to sell its DC hotel, according to Eric Trump. by @CraigKarmin


Jarqui

(10,126 posts)
9. Vlad offers a barter ... to give Donald some of Syria ... no problem making sand traps ...
Fri Oct 25, 2019, 01:19 PM
Oct 2019

unemployed Kurds will make great caddies ...

mahatmakanejeeves

(57,489 posts)
10. The Trump Organization is exploring a sale of its landmark Washington, D.C., hotel, partly over....
Fri Oct 25, 2019, 01:20 PM
Oct 2019
The Trump Organization is exploring a sale of its landmark Washington, D.C., hotel, partly over criticism that profiting from it flouts ethics laws


abqtommy

(14,118 posts)
12. Maybe it is a good idea to start a tRUMP Retirement Go-Fund-Me as an incentive to make
Fri Oct 25, 2019, 01:26 PM
Oct 2019

resignation look good. It's obvious that tRUMP's primary concern is income while destroying the US is
only of secondary interest to him.

flibbitygiblets

(7,220 posts)
13. "People are objecting to us making so much money on the hotel" You mean the Constitution?
Fri Oct 25, 2019, 01:27 PM
Oct 2019

That old rag? It's fake news, haven't you heard, Eric?

sarcasm thingy here

thesquanderer

(11,990 posts)
14. "People are objecting to us making so much money...therefore we may be willing to sell"
Fri Oct 25, 2019, 01:32 PM
Oct 2019

Translation: "We're losing money on this white elephant, let's see if we can find a sucker."

Lonestarblue

(10,011 posts)
16. The Trump Organization is not making as much money as expected.
Fri Oct 25, 2019, 01:50 PM
Oct 2019

I remember some stories from last year about overdue property tax bills. Some of the overseas properties are losing money. They lost the management contract on a Panama building and I think one in Toronto. The Doral is in financial trouble.

Any potential buyer should just wait until Trump leaves office in 2021 and we all find out that they're way behind on lease payments. Trump doesn’t like paying for things, including the security costs for his rallies even though he raises lots of money at them, so it would come as no surprise to learn that he is stiffing the federal government. Are his lease payments a matter of public record?

ToxMarz

(2,169 posts)
19. No doubt this will be the epicenter of his next
Fri Oct 25, 2019, 02:09 PM
Oct 2019

quid pro quo. They extorted $100's of millions from Qatar too bail out Kushners 666 building.

BumRushDaShow

(129,096 posts)
23. THIS
Fri Oct 25, 2019, 02:38 PM
Oct 2019

But when the Qatar deal fell through in 2017, that is when they went full force after them with targeted charges that caused the other countries in the region to sever ties as "punishment".

Eventually they got bailed out with a 99-year lease agreement -

Kushner Companies finally makes a deal to offload its troubled Midtown tower

Brookfield will assume operations of 666 Fifth Avenue via a 99-year lease
By Amy Plitt@plitter Aug 6, 2018, 9:15am EDT

After months of speculation, Kushner Companies and Brookfield Properties have made it official: Brookfield announced last week that the two companies reached a deal over 666 Fifth Avenue, the beleaguered building that was once seen as the crown jewel of the Kushner clan’s real estate holdings.

The deal, which was first reported by the Wall Street Journal, gives Brookfield a 99-year lease for the building; it will both operate and plan “a major redevelopment program to upgrade it,” according to a press release. It remains to be seen what the redevelopment will look like, though likely less ambitious than Kushner’s previous (and ultimately scrapped) plan to replace the whole thing with a Zaha Hadid-designed supertall.

Though the terms of the del were not clear, the WSJ notes that deal is “larger-than-expected”; according to “[p]eople who have been involved in the talks,” it would generate enough cash to allow Kushner to pay off the more than $1 billion it owes for the building.

https://ny.curbed.com/2018/8/6/17654692/kushner-companies-brookfield-666-fifth-avenue-deal

dawnie51

(959 posts)
20. So dim son is admitting.....
Fri Oct 25, 2019, 02:17 PM
Oct 2019

they were making money at this hotel vis a vie the presidency. And now to placate us they're going to sell it. This tells me that the cash flow is slowing down, and they are about to be held accountable for either maintenance or other expenses they don't want to pay for. AND THEY'RE SCARED. They are afraid, and seriously looking for a way out. Do not give an inch now.

Corgigal

(9,291 posts)
21. FBI is still waiting
Fri Oct 25, 2019, 02:19 PM
Oct 2019

for their new building, since the other one is a dump.

Wouldn’t that burn his ass?

keithbvadu2

(36,829 posts)
24. It's getting cash flow because countries/conservatives curry favor with Trump.
Fri Oct 25, 2019, 02:56 PM
Oct 2019

It's getting cash flow because countries/conservatives curry favor with Trump.

What value does that give a future owner?

Barr will host the next party at Chuck E Cheese?

BumRushDaShow

(129,096 posts)
25. Maybe they will hold it here-
Fri Oct 25, 2019, 03:02 PM
Oct 2019

with an international trip to be close to Mother Russia by going to this one in Azerbaijan (largest in the world) -



BumRushDaShow

(129,096 posts)
29. Yup and not Borowitz either!
Fri Oct 25, 2019, 03:33 PM
Oct 2019




TEXT

KFC

@kfc

The world's largest KFC just opened in Baku, Azerbaijan. #SoGood.
View image on Twitter
61
5:53 PM - Nov 7, 2012




https://www.rferl.org/a/kfc-biggest-in-the-world-baku-azerbaijan/24768712.html

Scarsdale

(9,426 posts)
26. Probably they will "sell" it to a
Fri Oct 25, 2019, 03:09 PM
Oct 2019

shell company, who will hold onto it for the tRump mafia. Either that, or else Ivanka and Kushner will privately buy it. If it is as profitable as they claim, no way will they let it go. They NEED the profits. Since when does he worry about the Emoluments Clause? He breaks that every time he goes off to play golf at one of his own properties, pocketing any profits.

BumRushDaShow

(129,096 posts)
27. It's a federal government building that they are leasing so they can't "sell" any building
Fri Oct 25, 2019, 03:13 PM
Oct 2019

But whatever they think they may do with the lease, GSA has to approve it.

Of course the fact that GSA even allowed them to continue to operate in there after the election against the Emoluments Clause, means that GSA hase been corrupted... so who knows.

Fritz Walter

(4,291 posts)
33. What brand would want to pay good money for it now?
Fri Oct 25, 2019, 04:26 PM
Oct 2019

At least none of the major brands: Marriott, Sheraton, Omni, Four Seasons, Hampton Inn, Holiday Inn, Best Western...

I think the Bates Motel closed after its manager was locked up. ("Psycho&quot

Also, the "Shining" ghosts at the Overlook Hotel are there for a reason, and probably not interested in branching out.

getagrip_already

(14,764 posts)
37. Emirates...
Sat Oct 26, 2019, 08:20 AM
Oct 2019

It won't be domestic money. Nobody would pay that kind of money without getting something like taiwan or the straights of japan in return.

Remember this is trump. He gives away things he doesn't own for personal benefit.

JustABozoOnThisBus

(23,350 posts)
38. Turkey might buy it. For ten times its value.
Sat Oct 26, 2019, 02:22 PM
Oct 2019

After all, he just gave them a nice chunk of Syria to cleanse of pesky Kurds.

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