The Trump International Hotel in Washington DC has been sold and will be converted to a Waldorf Astoria hotel. The Trump Organization cashed in on the lease for $375m to a Miami investment firm.
CGI Hospitality Opportunity Fund I, LP and Hilton Worldwide will rebrand it to a Waldorf Astoria, the General Services Administration said. The federal government owns the Old Post Office building, and is overseen by the General Services Administration.
The Trump Organization reportedly invested about $200m but lost millions and attracted conflict of interest controversy throughout Donald Trump’s presidency.
