Trump Close to Selling D.C. Hotel for $370 Million
Photo Credit: Miami-based CGI Merchant Group is the likely buyer for the Trump International Hotel in Washington, D.C. Wikimedia / James McNellis
Skift Take
A cratered reputation and tanked revenue don’t mean much in the eyes of hungry investors waiting for any property to hit the market.
The Trump Organization may finally have a buyer for its Washington, D.C., hotel.
Miami-based CGI Merchant Group is in advanced talks to acquire the Trump International Hotel in D.C. for close to $370 million, the Wall Street Journal reports. The acquisition would come in well below the initial $500 million the Trump family originally marketed the hotel at in late 2019.
But the sale would still equate to one of the highest per-room deals in city history, despite the property’s polarizing reputation and performance plummet during the pandemic. Even with the price chop, a $370 million sale comes out to close to $1.4 million per room — besting the all-time record in D.C., currently held by a Rosewood property that traded for $1.3 million per k
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