Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Trump’s Washington D.C. hotel makes $1.97mn in 2017

by | May 25, 2021

Trump International Hotel

Trump International Hotel

Washington : US President Donald Trumps company has turned a $1.97 million profit at its opulent Trump International Hotel so far in 2017, the media reported.

Earlier this year, the Trump Organisation had projected that it would lose $2.1 million during the first four months of 2017 as it established a new hotel and convention business in the nation’s capital, The Washington Post reported on Thursday.

Instead, the hotel, with the White House down the street, is already turning a hefty profit and charging more for its rooms than most or all of the city’s other hotels.

Driving the profits are the extraordinary prices guests have been willing to pay for rooms, including members of Trump’s cabinet, as well as big spending on food and beverages in the meeting areas, bar and restaurant — spots frequented by members of the President’s inner circle and other Republican leaders.

This year, guests have paid an average of $652.98 a night to stay there, beating the company’s expectations by 57 per cent, according to documents posted online by the General Services Administration.

Since Trump entered the White House in January, the hotel has emerged as a Republican Party power centre and popular destination for conservative, foreign and Christian groups holding meetings in Washington, earning the company $19.7 million through April 15, according to his financial disclosure with the government.

Trump International visitors have spent $8.2 million on food and drinks so far at the hotel this year, beating expectations by 37.2 per cent, reports The Washington Post.

“We are very proud of the success of the project,” the President’s son Eric Trump, who took over the company with his brother Don Jr., said in an email.

—IANS

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

Sensex trades lower amid mixed global cues

Sensex trades lower amid mixed global cues

Mumbai: Indian equity indices opened lower on Friday following mixed cues from global markets. At 9.48 a.m., Sensex was down 430 points or 0.52 per cent at 81,771 and Nifty was down 118 points or 0.48 per cent at 25,023. The broader market trend remains positive. On...

Rapido raises USD 200 mn to expand operations, scale tech platform

Rapido raises USD 200 mn to expand operations, scale tech platform

New Delhi: Homegrown ride-sharing platform Rapido on Thursday said it has raised $200 million in its Series E funding, taking its valuation to over $1.1 billion. The funding round was led by WestBridge Capital, and also saw participation from existing investor Nexus,...

Rupee falls 3 paise to settle at 84.01 against US dollar

Rupee falls 3 paise to settle at 84.01 against US dollar

Mumbai: The rupee breached the crucial 84-mark second time within a month and settled 3 paise lower at 84.01 on Wednesday amid a sharp decline in the domestic equity markets as investors stayed away from riskier assets. However, a weak dollar against major...

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *