In its effort to sell off the lease to the Trump International Hotel in Washington, the Trump Organization has put together a glossy investor brochure complete with pictures showcasing the hotel’s grandiose architecture, its central location and its spa’s Himalayan salt chamber.
The hotel’s biggest selling point though, according to a copy of the brochure seen by CNN, is the one thing that the Trump family insists it didn’t take advantage of: profiting off foreign governments.
“Tremendous upside potential exists for a new owner to fully capitalize on government related business upon rebranding of the asset,” reads the 46-page investor pitch.
The Trump Organization insists that its refusal to solicit foreign business has cost it more than $9 million. According to the brochure, those “sacrifices” include turning away 17,100 room nights in 2019, resulting in $5.3 million in lost room revenue and $3.9 million in lost food and beverage revenue.
The investor pitch is an explicit acknowledgment of how important foreign business is to the 263-room luxury hotel in the Old Post Office building blocks from the White House.
Though it includes specific numbers of how much money it turned away from foreign governments, the pitch does not include figures for how much the hotel has accepted, despite reports showing it has become a magnet for foreign officials. Nor does it provide actual or historical financial performance data for the hotel, which is named in multiple lawsuits accusing Trump of using the property to illegally profit off his presidency. [Continue reading…]