The COVID-19 pandemic is reportedly costing President Donald Trump’s properties at least $1 million a day.
Sources told The Wall Street Journal that more than 500 staff have been laid off or furloughed at Trump properties in New York, Washington, Las Vegas and Florida
The Journal noted that more than half of the $440 million income Trump claimed in his last financial disclosure was attributed to his golf properties, suggesting that the president could take a big hit this year.
“One day in March, the family’s flagship Trump International Hotel in Washington had just 11 guests in its 263 rooms, according to an employee,” the paper reported.
Perhaps most troubling for the Trump Organization is the possibility that it might lose out on a record price for the president’s Washington hotel, which was expected to sell for over $320 million.
“Like virtually every other hospitality company, we are anxiously awaiting the day when our world-class properties can fully reopen their doors,” Eric Trump said in a statement to the Journal. “We have an unbelievably strong company and we continue to pray for the health and safety of all Americans.”
Earlier this week, Trump abandoned plans to re-open the economy by Easter after experts advised him that over 2 million American could die if social distancing guidelines were relaxed.
Read the entire report here.