The Trump family has reportedly reached a deal to sell the rights to the Trump International Hotel in Washington, D.C.
According to a report Sunday in the Wall Street Journal, the Miami-based CGI Merchant Group will pay the Trump Organization $375 million for the high-end luxury hotel just a short walk down Pennsylvania Avenue from the White House.
The group will remove the Trump name from the facility, the Journal reported, citing “people familiar with the matter.”
CGI “has reached a deal with Hilton Worldwide Holdings Inc. to have the property branded and managed by Hilton’s Waldorf Astoria group,” the Journal wrote.
The hotel is housed in the former Old Post Office and is technically owned by the federal government. However, the Trump Organization’s lease that will be sold to CGI runs for nearly a century, with extensions.
The sale is expected to close in the first quarter of 2022.
On Capitol Hill, Democratic-controlled House committees investigating former President Donald Trump have been probing the hotel — which has some of the largest and most luxurious guest rooms in Washington and has long been highly favored by foreign dignitaries — over potential conflicts of interest and emoluments issues.
According to the Journal, it wasn’t immediately clear whether the proposed sale would affect those probes, and attempts to get a comment from Democratic lawmakers were unsuccessful.
The Trump Organization has said it didn’t market the hotel to foreign officials and that it forwards to the Treasury Department the money it made from foreign government guests while Mr. Trump was president.
