Grifters Gotta Grift
President Trump’s real estate business is considering unloading its opulent Washington, DC, hotel, a move it says is motivated partly by criticism that the Trumps are flouting government-ethics laws by profiting from the property. The family business, the Trump Organization, has hired the real estate firm JLL to market rights to the Trump International Hotel, Eric Trump, an executive vice president of the company, told the Wall Street Journal.
The Trumps don’t actually own the hotel, which is the former Old Post Office, but lease it from the federal government. With extensions, the lease runs close to 100 years, and a new owner could control the property well into the next century.… The company is hoping to fetch more than $500 million for the lease rights, or a price of about $2 million a room key, people familiar with the matter say. That would make the sale one of the highest-priced hotel deals ever by this popular industry valuation metric, according to data tracker STR Inc.… Revenue at the Washington hotel rose by about $400,000 to $40.8 million last year, according to the president’s financial disclosures in May.
“People are objecting to us making so much money on the hotel, and therefore we may be willing to sell.” — Li’l buddy Eric.
Um, actually, people are objecting to Daddy Dearest violating the Constitution. And I’m willing to bet that the Trump Org, besides taking the cursed name off of things, is also considering how that DC albatross is going to bankrupt them once its namesake is impeached, and the emoluments stop flowing into the ol’ grifter’s wallet.