Trump Washington Hotel’s 375 Million Yuan Changed Hands and Was Captured by Miami’s CGI Group

Trump’s deal to transfer management rights of Washington International Hotel to Miami CGI Business Group for $375 million has finally ended. The picture shows that the word Trump, which originally appeared at the entrance of the hotel, has been removed. (The Associated Press)

trumpWashingtonManagement rights to the Trump International Hotel Washington, D.C. eventually pass to Miami’s CGI Merchant Group for $375 million, which will be renamed the Waldorf Astoria Hotel; The original Hotel Trump would be stripped of doors, room sheets and bar napkins and coasters everywhere.

The five-year career of the Trump Washington Hotel, which was once considered the core of Trump’s power in Washington, is the first example in American history that a president has mixed politics and personal business.

According to an analysis by hotel industry insiders, Trump spent 200 million yuan for the Washington International Hotel, and after transferring the operating rights of 375 million yuan, even though he repays Deutsche Bank’s 170 million yuan loan , while cutting operating losses, he will eventually be able to repay Deutsche Bank. Profits are still around 100 million yuan.

CGI Business Group said it would partner with Hilton to operate the hotel on Pennsylvania Avenue.

Trump’s second son, Eric Trump, said in a statement on the 11th: “We have transformed a crumbling, underused government building into one of the most prestigious hotels in the world. We are delighted with the result. Extremely proud.” “

During the Trump Administration, the Trump Washington International Hotel becameRepublicanThe meeting place is also the place where opponents protest Trump’s administration and policies. In 2013, Trump and the General Services Administration (GSA) signed a lease agreement for the old post office in Washington. The Trump International Hotel in Washington opened in 2016 after the Trump Organization invested 200 million yuan in renovations. It opened in 2009, when Trump was the Republican presidential nominee.

Trump’s approach to running on the edge of a conflict of interest between politics and business has drawn criticism from government ethics experts. During Trump’s inauguration week, the Presidential Inauguration Committee (President Inauguration Committee) rents banquet halls and conference rooms in Trump Washington. International Hotels Washington, DC Attorney General Carl Racine sued Trump for $1 million, and the lawsuit ended in a settlement on May 3 of this year, to complete the transfer of hotel management rights.

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