December 8, 2021

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Trumps Selling Prized Washington, D.C., Hotel for $375 Million – The Wall Street Journal

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Donald Trump’s family hotel company has reached an agreement to sell the rights to its Washington, D.C., hotel for $375 million, according to people familiar with the matter.

CGI Merchant Group, a Miami-based investment firm, is in contract to acquire the hotel lease for the Trump International Hotel, which is located a short walk down Pennsylvania Avenue from the White House. CGI intends to remove the Trump name, and it has reached a deal with Hilton Worldwide Holdings Inc. to have the property branded and managed by Hilton’s Waldorf Astoria group, these people said.

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