Trump's DC hotel reportedly turns a sizable, unexpected profit

AL DRAGO  NYT

AL DRAGO NYT

According to data provided to the Washington Post by Smith Travel Research, the politically inflated rates at the Trump International have even made it the most expensive hotel in Washington DC, with guests staying at comparable hotels like the Hay-Adams, Four Seasons, and Willard only paying an average of $495 a night.

There appears to be a significant correlation between the election of Donald Trump and the rise of revenue at the Trump International Hotel in Washington.

Rooms at the hotel, which regularly hosts foreign dignitaries and even members of Trump's own Cabinet, went for approximately $652.98 a night this year. The Trump Organization expected the hotel to lose $2 million in the first four months of 2017.

That said, the hotel still has a fairly low occupancy rate - 42.3% compared to about 70% in other DC hotels.

President Donald Trump's D.C. Hotel's $2 million profit so far this year has exceeded expectations and shattered initial predictions of a $2.1 million loss.

Trump's ability to profit from the DC hotel while in office has raised multiple ethical concerns since he came to the White House.

The Post recently published an expansive report about how the hotel has changed Washington's "culture of influence."

The Journal cited unredacted financial records temporarily posted Thursday by the General Services Administration, which oversees the Trump Organization's lease for the hotel.

The watchdog group Citizens for Responsibility and Ethics in Washington alleged in January that Trump was violating the hotel's lease by not divesting from his company.

The recent revelations in the property's finances are from documents posted on the Government Services Agency (GSA) website. But room rates don't tell the whole story: The hotel made $8.2 million on food and drinks, which was 37% higher than projections and accounted for more of the revenue than a non-convention-center hotel typically sees, per analysts.

Trump denies that it poses any conflict of interest issues.

The Trump Organization won a contract from the federal government to renovate the Old Post office and turn it into a hotel.

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