United Kingdom
United States
Asia Pacific
Global hotel chains mulling bid for Trump Washington DC hotel
Buyers interested in talking over the lease of the controversial Trump Washington DC hotel have until January 23 to table a bid.
Real estate firm JLL is talking it up, insisting there has been ‘robust activity’ despite the unrealistic asking price of $500 million for the ground lease.
That equates to more than $2 million per key which would be a record for DC if it fetched that price.
Major hotel chains like Hilton and Marriott International are also keen to take it over, the Wall St Journal reported, citing people familiar with the matter.
The Trump Organization signalled a plan to offload the hotel due to the constant negative media and legal challenges over the past few years.
The Journal says foreign private-equity firms and high net worth families are also in the frame to make a bid.
The hotel has performed poorly in comparison to rival hotels in the city.
It has a 57% occupancy rate compared to an average 75% at other high-end hotels in the city.
The hotel real estate asset will not be part of the transaction and remains under ownership of the Federal government.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Cruise passenger arrested for ‘lewd’ act on minor
Abercrombie & Kent hails $500 million funding boost
Flight diverted after passenger urinates in aisle
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Scammed passenger goes on airport rampage