Onlookers cheer as Trump’s failing D.C. hotel closes for good and tacky gold signage gets ripped down
It’s the end of an era.Donald Trump‘s failing D.C. hotel is officially out of business after the ex-president completed the sale of the property to a Miami investor group yesterday, effectively marking the end of his family’s business presence in the nation’s capital.Related: Trump hotels issue mask mandates, probably won’t impact business since nobody wants to stay there anywayCGI Merchant Group bought the 263-room property for a reported $375 million.
Trump initially wanted $500 million for the place, but after sitting on the market for roughly two years with no interested buyers, he had to drop the price by $100 million… and then another $25 million.Related: Yet another one of Trump’s properties is in dire financial straits with no hope in sightAfter the sale was finalized yesterday, the new owners moved quickly to sage and sanitize the premises.
Onlookers reportedly cheered as a cleaning crew came out after dark to start ripping down all the Trump signage, starting with the tacky gold-plated family name plastered above the front doors.Don’t cry because it’s over.
Cry because it happened. pic.twitter.com/I0wDBM0A5Z— Zach Everson (@Z_Everson) May 12, 2022Last year, the House Oversight Committee revealed that, during Trump’s four years in office, the hotel racked up more than $70 million in losses, even though he claimed publicly that it made over $155 million.Related: Embarrassing news for Trump’s bankrupt Vancouver hotel and its “Spa by Ivanka”Not only that, but it received millions from foreign governments in payments and loan deferrals, which he didn’t disclose.The hotel will be rebranded as a Waldorf Astoria and is scheduled to reopen later this year.Here’s what people are saying on Twitter about the whole thing…in.
