Trump’s Washington Hotel Loses $70 Million During Presidency

Former President Donald J. Trump’s controversial Washington, D.C., hotel proved not to be a money-maker during his presidency.

Reports show the Trump International Hotel Washington, D.C., lost more than $70 million over the four years of his presidency despite taking in more than $3.7 million from foreign governments, according to documents released by Congress.

The information released by the House Committee on Oversight and Reform showed that the hotel was badly in need of cash and that the Trump Organization shifted $27 million from other parts of the business to keep it afloat. The company also reportedly received preferential treatment from a major lender to delay payments on a $170 million loan.

A statement from the Trump Organization disputes findings that the company received special treatment.

“This report is nothing more than continued political harassment in a desperate attempt to mislead the American public and defame Trump in pursuit of their own agenda,” the company said.

Revenue from the hotel is controversial since it could pose ethics violations by the administration and the House committee believes that the preferential loan payment and foreign government money should have been reported.

“The documents … raise new and troubling questions about former President Trump’s lease with GSA and the agency’s ability to manage the former president’s conflicts of interest during his term in office when he was effectively on both sides of the contract, as landlord and tenant,” the committee’s Democratic co-chairs, Carolyn Maloney of New York and Gerald Connolly of Virginia, wrote in their letter.