Trump’s hotel has received little attention from the media
Donald Trump, who failed to mention his business when the US took office, may soon be parting with the asset.
The president-elect sold the Mar-a-Lago club in Florida for $200 million, according to a White House report. He then transferred ownership to a trust headed by his two adult sons.
Then, according to USA Today, he sold the Trump International Hotel in Washington for $500 million. The hotel’s website states it is “a cultural destination and magnet for the world’s finest contemporary cuisine” and “has hosted countless successful business and political leaders and public figures.”
It’s unclear what happened to the fees and profits at the Trump International Hotel.
The hotel, according to news reports, failed to get a cent from the profits of the first four months of 2017.
Trump promised during the election campaign that he’d leave the Trump Organization to his adult sons, Donald Jr. and Eric. But that promise wasn’t included in his 2006 financial disclosure statement, and it wasn’t mentioned when he took office.
His decision to sell the company is “independent of his role as President of the United States,” White House spokesman Hogan Gidley said in a statement.
CNN Money asked Ivanka Trump, his daughter and adviser, about the sale. She told CNN’s New Day, “The president of the United States is very hands-on in that business. His adult sons are running it.”
The president and his advisers have said they are leaving foreign affairs entirely to the government. They’ve also insisted he is not violating the Constitution’s emoluments clause.
The clause states a “natural born citizen” must not receive money and has not been tested in court.