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Sale of Trump International Hotel in DC is put on 'indefinite hold'

by Fatima Outlaw (2020-11-22)


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The Trump Organization has reportedly pressed pause on plans to sell the Trump International Hotel Washington DC because no one has shown interest in paying anywhere near the $500million asking price.  

The Trump Organization, which is owned by President Donald Trump and run by his children, hired top real estate firm Jones Lang LaSalle in October 2019 to find potential buyers for the 260-room hotel inside a historic post office. 

The company's initial January 2020 deadline to accept bids for the lease came and went, before the real estate industry ground to a near halt when the coronavirus pandemic took hold in March. 

Nine months later efforts to sell the hotel have been put on an 'indefinite hold', LaSalle confirmed to this week. 

People familiar with the hunt for a buyer told the outlet that there haven't been any bids close to the half-a-million-dollar asking price - roughly $2million per room. They said several of the bids have been for less than $250million. 

The Trump Organization dismissed the claims outlined in the CNBC report, telling DailyMail.com: 'We have had offers north of $350million, which would have been the most expensive price ever paid for a hotel in Washington DC and have rejected those offers in full. 

'Trump International Hotel is one of the finest hotels in the country as rated by Condé Nast and so many others.'

The Trump Organization has reportedly pressed pause on plans to sell the Trump International Hotel Washington DC (pictured) because no one has shown interest in paying anywhere near the $500million asking price

The Trump Organization hired top real estate firm Jones Lang LaSalle to find potential buyers for the 260-room hotel inside a historic post office in October 2019. Pictured: President Trump and his family hold a ribbon-cutting ceremony when the hotel opened in 2016