The Trump name was removed from Donald Trump’s former hotel in Washington, D.C., located in the historic Old Post Office Building, after it was sold to CGI Merchant Group, an investment firm.
Once considered the crown jewel of its hotel operation, the luxury property served as a magnet for Trump aides, supporters, and foreign businesses seeking to curry favor during the Trump administration.
The hotel, which sold for $375 million, lost more than $70 million in the four years of Trump’s presidency, including losses each year before the pandemic-induced shutdown in 2020. It will now be reflagged as a Waldorf Astoria, in partnership with Hilton Worldwide.
This is not the Trump Organization’s first deal with Hilton. In 1985, it purchased for $300 million the at-the-time unopened Atlantic City Hilton Hotel, a 624-room structure in the gaming center’s marina area, Trump spokesman John Baron told the New York Times at the time. The property was sold at a tremendous loss in 2011. John Baron, it was later revealed, was a pseudonym used by Donald Trump in the 1980s.
This time is different, however, as the sale of the Old Post Office lease will generate a profit of $100 million for Trump, according to multiple media reports, after renovation loans are paid off.
The Old Post Office Building is listed on the National Register of Historic Places.
The hotel has 263 guest rooms, 35 of which are suites, including the Trump Townhouse, a 6,300-square-foot (585-square-meter) space with a private entrance that is likely to be renamed after the reflagging.
The property was originally put on the block in the fall of 2019 but the ensuing pandemic thwarted sales efforts.
The hotel itself is located on Pennsylvania Avenue, less than a mile from the White House. That 1899 building was slated for demolition in the 1970s but was spared thanks to a successful campaign by what is now known as the D.C. Preservation League. After a bidding process that included ten formal proposals, the GSA awarded a 60-year lease to the Trump Organization in 2013. The lease required Trump to restore the building’s stonework, original wood milling, and paneling to their original 19th century condition.
What is now referred to as the Old Post Office was built before Congress, in 1910, imposed height limitations in the district and is the city’s second tallest building. It stands 315 feet (96 meters) high and is exceeded only by the 329-foot-tall (100-meter-tall) Basilica of the National Shrine of Immaculate Conception.
(Photo: Accura Media Group)