Trump Hotel DC Has Profited Nearly $2 Million This Year

Guests have paid an average of $652.98 a night to stay at the Trump International Hotel in Washington DC. That probably makes it the most expensive hotel in the city according to industry experts

But the hotel's $660.28 average nightly rate― far higher than the rate of comparable hotels in the area ― made it a lucrative property.

Citing documents from the General Services Administration, the Post noted guests have spent an average of $652.98 per night to stay at the hotel, which includes not only room fees but also expenditures at the hotel bar and restaurant.

President Trump's Washington, DC, hotel wasn't supposed to be profitable in the first four months after it opened - at least that's what the Trump Organization projected.

Trump International Hotel made $1.97 million in profit in the first four months of the year, up from an original forecast of a $2.1 million loss, beating expectations by almost 200 percent, according to government data first reported by the Washington Post.

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The Post reports that even though the Trump Organization expected the DC hotel to lose $2.1 million in the first four months of Trump presidency, the hotel brought in 192% more than expected by August. And as The Wall Street Journal points out, the hotel also received a higher-than-normal portion of its revenue from food and beverages.

Donald Trump is fighting multiple lawsuits over his ownership of the nine-month-old Trump International Hotel in D.C., but at least all that constitutional controversy isn't hurting the president's bottom line.

"What makes all of this particularly galling is that we now have the unprecedented situation where the President of the United States is both the landlord and tenant of a federal building", he said in a July statement.

Critics of the president believe this is proof that Trump is profiting from the presidency.

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"The Trump International is, if not the, then one of the top rate-getters in the city", said Marc Magazine, an executive at the real estate firm Savills Studley.

Situated between the White House and Capitol Hill, Trump International Hotel is located in the converted 119-year-old Old Post Office Pavilion, a historic Romanesque building and clock tower owned by the federal government.

Trump denied there are any ethical issues, though the hotel has become a hot spot for Trump operatives, White House staffers, lobbyists and foreign governments.

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