The Trump International Hotel in Washington, D.C., lost tens of millions of dollars in the four years that Donald Trump was president, even as he was claiming big profits on the operation, according to documents unveiled Friday by Democrats on the House Oversight and Reform Committee.
The lavish hotel, which sits just blocks from the White House, has been a lightning rod of controversy since Trump won the presidency in 2016, not least because it played host to numerous foreign dignitaries, business leaders and other powerful figures with vested interests in U.S. foreign policy and domestic regulation.
Trump, in entering the White House, had bucked tradition by refusing to extract himself fully from his namesake business empire. And Democrats, for years, have accused Trump of leveraging the powers of the office to reap profits for the hotel and the numerous other business ventures operated by his company around the globe.
The newly released documents, provided to the committee by the General Services Administration (GSA), which manages the federal lease governing the hotel, found that while Trump’s company did pull in millions of dollars from foreign governments over his White House term, the operation overall was a money pit, losing more than $71 million from 2017 to 2020.
Read more at The Hill.
{Matzav.com}
