Experts say the value has been hit by the Covid shutdowns that weakened the hospitality industry, while many would-be buyers are put off by the association with the controversial former president.
The original commercial real estate brokerage firm, Jones Lang LaSalle Inc., backed out of involvement in the hotel’s sale after the Capitol riot of January 6.
Donald Trump is on the brink of selling the rights to his Washington D.C. hotel, Trump International, according to Axios.
The building on DC’s Pennsylvania Avenue, with Trump’s name emblazoned in gold capital letters outside, became an iconic setting during the former president’s time in office.
His ownership of the business through the presidency drew accusations of conflict of interest, as it continued to play host to foreign governments and various corporations.
The historic hotel, housed in the 122-year-old former Post Office building, is expected to go for less than the $500 million that Mr Trump was reportedly seeking in 2019, when he initially tried to sell it.
When Trump left office, the D.C. hotel was reported to have an outstanding loan of $170 million loan outstanding, and dropping revenues.
While details of the potential deal are not yet known, Mr Trump’s representatives have been in advanced talks with major hotel chains and investors, reports Axios. It’s likely he will sell the leasing rights to a real estate developer, who would then deal with hotel companies to manage and rebrand the property.
As talks over a potential sale continue, speculation is heating up as to whether or not Mr Trump will seek reelection in 2024. On Thursday last week, his former senior adviser Jason Miller told Cheddar News he thought the likelihood of Mr Trump running for president again was “somewhere between 99 and 100 percent.”
MAGA fan says he’s willing to go to jail to keep flying huge Trump flag
A MAGA supporter says he is prepared to go to prison to keep a huge Trump 2020 flag flying at his construction business.
Jay Johnson has been accused of breaking a city ordinance that requires flags over a certain size to be licensed.
Officials in Buffalo, Minnesota, say that Mr Johnson did not apply for a license for the 50 feet by 30 ft flag, which cost him $1,000 and hangs off a crane, and that he has indicated to them that he does not plan to.
The city must now decide if it will enforce the law in this case.
“I am prepared to get the fines, ultimately get cuffed, go to jail, whatever,” Mr Johnson told the WCCO TV station.
And he said that if the city demands he moves it, “I’ll just put it up someplace else, and maybe even a bigger flag.”
Mr Johnson says that several of his work vehicles had their windows shot out after he started flying the flag again last month.
“I’m willing to forgive the people that did it,” said Mr Johnson.
“They just got to come forward and admit it. I put a reward out.”
His neighbors say they are confused as to why Mr Johnson has started flying the enormous flag again.
“It doesn’t really bother me much, it’s just weird seeing it up again,” said Patrick Cayanan.
“Like, are they campaigning again for 2024?”