Trump’s DC hotel has already lost over $1 million since opening: report
According to a letter issued by Democratic members of the House Oversight Committee, President Donald Trump’s newly opened Trump International Hotel in Washington D.C. has lost more than $1 million in net income in its first two months of operation.
The financial figures are contained in a letter from Elijah Cummings (D-MD), the ranking member on the committee, which also notes that reported revenues are $2 million less than estimates provided to the General Services Administration by the Trump Organization when they took over the property.
According to the DCist, Trump International, located in the Old Post Office, has been a major object of concern for Democrats as a conflict of interest for the new president who agreed to the lease in 2012, well before he ran for president.
In the letter, the Democrats once again expressed dismay that Trump has not severed his organization from the hotel which may place him in violation of the Emoluments Clause in the U.S. Constitution.
“Our hope has always been that President Trump would resolve these breach-of-lease and conflict of interest issues prior to being sworn in as President on January 20,” the letter said. “Unfortunately, President Trump has refused to address these concerns, and taxpayer dollars may now be squandered as career public servants are forced to take remedial action to cure this breach.”
Trump International opened to great fanfare, with then candidate Trump hosting a press conference at the hotel that he quickly turned into a ad for it.
Last week, newly anointed White House Press Secretary once again promoted the hotel in his official capacity as Trump’s spokesperson.