President-elect Donald Trump is considering rescuing the bankrupt Waldorf Astoria Hotel in Washington, D.C., and rebranding it as the Trump International Hotel, the Post reported.
The incoming commander-in-chief's company, the Trump Organization, is considering options including a licensing deal and possibly buying back the lease on the government-owned 125-year-old former post office, according to three people familiar with the situation. It is said that they are doing so. building.
“Our family saved the hotel once, and we would save it again if asked,” Eric Trump told the Post in an exclusive interview.
The luxury lodge at 1100 Pennsylvania Avenue, just a few blocks from the White House, has become a magnet for Republican insiders, D.C. lobbyists and fundraisers since President Trump opened the hotel in 2016. Ta.
Republican operatives spent $266,000 there in the first six months alone, according to FEC data.
But after Hilton, which controls the Waldorf brand, acquired the hotel and the real estate mogul severed ties with the hotel, visitor numbers declined, people familiar with the matter said.
It remains “undecided” whether the Trump Organization wants to take back full control of the hotel by buying back the leases it sold in 2022 or agree to a licensing agreement, the people said.
The president-elect is eyeing potential hospitality investments in the Washington, D.C., area, according to people close to the facility.
But they added that there had been no official communication from the Trump Organization about the Waldorf Astoria.
Built in a Classical Revival style, this landmark tower features 263 guest rooms, including 35 suites, and a 6,300-square-foot two-story townhouse with private entrance. Rates start at approximately $600 per night.
A spokesperson for Hilton Group did not respond to The Post's request for comment.
A potential takeover would also raise questions about the future of the hotel's Bazaar restaurant, run by Trump-bashing celebrity chef Jose Andres, a longtime Democratic donor.
A spokesperson for the World Central Kitchen boss declined questions from The Post on Thursday.
The Trump Organization sold the 100-year lease in 2022 for $375 million to a group of Miami-based investors backed by former Yankees slugger Alex Rodriguez.
The agreement with CGI Merchant Group, announced in November 2021, will see Hilton manage day-to-day operations.
However, the company defaulted on a $285 million loan in August and lost control of the lease to its creditor, merchant bank BTD & MSD Partners.
Rising interest rates pose investment challenges, paving the way for BTD & MSD Partners to acquire a lease at a foreclosure auction at a reduced value of $100 million.
The newspaper has contacted CGI for comment.
A spokeswoman for BTD & MSD Partners, the merchant bank and investment firm run by former Goldman Sachs executives Greg Lemkau and Byron Trott, declined to comment.
