JLL has set January 23rd as the bid deadline for the Trump Organization’s Washington, D.C. hotel, the WSJ reported. The Trump family owns the leasehold interest that runs close to 100 years with extension.
- Worth Noting: Trump was hoping initially to get more than $500 million for the deal, which would represent around $2 million per key. Potential buyers have balked at that figure, and brokers have indicated the Trumps are willing to negotiate on price and other terms. The General Services Administration owns the underlying land.
- Be Smart: Although the hotel is a hub of social activity among Republicans, some hotel analysts have suggested that a new lease holder could increase business with new branding that would enable it to market to those who have avoided the property for political reasons. Moreover, the Trump Organization doesn’t market the hotel to foreign dignitaries and it writes a check to the U.S. Treasury Department for money made from foreign government guests.