Citing a report from the General Services Administration, The Post reported that the luxury hotel charged guests an average of $652.98 a night, which is a 57% increase from projections.
The Trump International Hotel has made $18 million in total, far exceeding expectations of the organization, according to the Wall Street Journal. As Trump engages in a disturbing war of words/glorified penis-measuring contest with Kim Jong-un, the Washington Post reports that the Trump International Hotel in Washington, D.C., "has become a financial juggernaut", according to the story's reporter, charging more than nearly any other D.C. hotel (about $650 per night) and drastically outperforming expectations to earn $19.7 million through April 15.
However, the occupancy rate for the Trump hotel is low for the area. Rep. Peter DeFazio (D., Ore.) called the arrangement "highly unethical". The hotel had projected its average daily rate would be $416, the Journal reported.
The Washington D.C. hotel owned by the Trump family wasn't supposed to be making money so soon after opening its doors in September, but its connection to the president and its proximity to the White House and Capitol Hill have given the property a healthy boost to its bottom line.
"What makes all of this particularly galling is that we now have the unprecedented situation where the President of the United States is both the landlord and tenant of a federal building", he said in a July statement. Because Trump did not fully divest from his businesses, he still benefits financially from the hotel, which ethics groups have suggested leaves him open to major conflicts of interest, including bribery. Hm, how might the Trump International Hotel have pulled that one off?
Of his 202 days in office, Trump has spent 65 days at his properties, a lot of them at his golf properties.
The Trump Organization won a contract from the federal government to renovate the Old Post office and turn it into a hotel.
The Trump International Hotel also outperformed its expected food and beverage revenue by 37 percent, according to the Journal. It posted an occupancy rate of 42.3 percent, compared with almost 70 percent in the industry.