Donald Trump’s hotel in Washington lost US$70 million, even as he hid foreign payments
- A US House panel says new documents raise ‘troubling’ questions about the popular gathering spot for overseas dignitaries and the ex-president’s supporters
- Trump claimed the hotel earned him over US$150 million while he was in office, but the showcase building was actually bleeding money
Former US president Donald Trump’s showcase hotel in Washington – a popular gathering spot for supporters and foreign dignitaries – bled millions of dollars during his time in office even as he concealed payments from foreign governments, a US House of Representatives panel said on Friday.
The House Committee on Oversight and Reform said recently obtained government documents raise “troubling” questions about the Trump International Hotel, which is in a historic building the Trump Organisation leases from the federal government.
According to the Democratic-controlled committee, Trump reported that the hotel earned him more than US$150 million during his time in office, but actually lost more than US$70 million.
The committee found that the hotel received over US$3.7 million in payments from foreign governments – roughly equal to more than 7,400 nights at the hotel, posing a potential conflict of interest.
The hotel gave a portion of that money to the US government but failed to provide full details of those payments to the GSA, the committee said.
The committee’s investigation was based on documents released by the General Services Administration, the US government agency that manages federal properties.