Money is rolling in at President Trump’s D.C. hotel, turning a nearly $2 million profit so far in 2017 — a number that far exceeds original profit projections, according to a report by The Washington Post.
The Trump International Hotel in Washington, D.C. was projected to lose $2.1 million in the first four months of 2017 but has instead brought in $1.97 million.
The hotel, which opened last fall, has been working to make a name for itself in downtown Washington and the $4.1 million improvement over original projections proves it is succeeding.
Guests in 2017 have paid a nightly average of $652.98 to stay in the hotel, making the Trump hotel one of the most expensive in the city, with rates poised significantly higher than its competitors.
The profit, however, also offers leverage to critics who claim that President Trump is leveraging his position in the Oval Office to turn a profit.
Since Trump’s inauguration, the hotel has become a popular meeting place for Republican leaders, members of Trump’s cabinet and conservative groups as well as a destination for Trump supporters.
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Trump's DC hotel exceeds profit expectations in first four months https://t.co/GnClpdt7xV pic.twitter.com/ggMjn8elc7
— The Hill (@thehill) August 11, 2017
My cousin who lives in the DC suburbs said there was significant controversy locally when Trump took an historic building and turned it into one of his gaudy palaces. I have read traveler reviews regarding this hotel and it seems many travelers thought the hotel didn’t deliver the type of accommodations and service on a par with the price of a room. I believe I also read somewhere that room rates in the early days of the hotel were even more than they are now, and the hotel had to lower rates to attract more guests. The hotel does have a lot of competition from numerous other upscale hotels which offer significantly better room rates.
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