Trump's DC Hotel Struggling Because No One Wants To rest There
New reports paint a dire picture for Donald Trump’s Washington, D.C. hotel. Apparently no one wants to rest in Trump’s building now that he isn’t president anymore, and the Trump Organization is going to have to make some serious decisions shortly about what to do. Farron Cousins explains why this is happening.
Link – https://www.rawstory.com/trump-hotel-washington-dc/
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*This transcript was auto-generated. delight excuse any typos.
late CNN decided to look into just how busy Donald Trump’s Washington DC hotel has become since Trump left office and to virtually nobody surprise. It turns out nobody wants to rest at Trump international in Washington, DC, and the hotel, struggling to figure out how it’s going to draw people. And now here’s the thing, a staffer that did speak to, uh, CNN said that look, it’s typical this time of year for there not to be a whole lot of traffic in the hotel. Not a lot of people are staying. It’s not really a travel time. It is what it is, but the staff are also noted. This feels a little different. This feels almost like the way things are now. And what had happened was CNN went to the hotel on a typical Saturday and then returned on Sunday for the brunch crowd. They said there were people in the lobby trying to get into the steakhouse on Saturday, but not a whole lot staying in the hotel.
Then on Sunday, they went back for brunch, virtually empty. So yes, Donald Trump’s hotel in Washington, DC is, is struggling right now to get people to come in. Uh, they are, as we had pointed out in a segment earlier this week, raising their rates in the coming weeks, uh, conservatives think that that’s because Trump is coming back to be president again. Uh, but it’s because they’re expecting their busy flavor. So time will tell, right? It’s a little too early, uh, to be, go ahead and, uh, writing the epitaph for Donald Trump’s DC hotel, which by the way, is supposed to be the crown jewel of the Trump organization’s hope hotels, but yeah. Will they ever hit the dot that they had been during Trump’s administration? I think we all already know the answer to that. The answer is clearly, no, there’s less incentive now to be honest for anyone to rest in Donald Trump’s hotel, because it wasn’t just that you would have foreign dignitaries come and rest in the hotel.
We had a, um, according to reports, Saudi Arabia was coming and renting out huge blocks of rooms, paying in advance and then never using them. Uh, which many believe that was their tacit way of trying to Curry favor with Donald Trump. And it wasn’t just Saudi Arabia. Other countries, uh, would send their dignitaries, their ambassadors. They would all come and rest in Trump’s hotel just to kind of demonstrate a little favor, but it’s not just that you also had all of these Republican groups, Republican organizations, holding events in Donald Trump’s hotels, even during the pandemic. So you can’t write this off as just a pandemic thing. Like other hotels are struggling. Oh no. Oh, he’s not getting the traffic because one, nobody has to suck up to them anymore. And to everybody else of him, nobody wants to go and give him their money. After doing that for four years, with our tax dollars paying for his businesses.
No, no, no people are sick of it and people are sick of him and he’s toxic the Trump name now isn’t, isn’t a, a logo. It’s like a warning sign on the outside of his hotels and his businesses because that man is that toxic. He sure. Uh, certainly has a lot of supporters still. There’s no enquiry about that. But those aren’t exactly the people who can go and pass a thousand dollars a night just to rest in his hotel and the average traveler, when they have a choice, they’re not going to pick that because if there’s one thing there’s not a shortage of in Washington, DC, it’s hotels. So Trump is in trouble. They owe a lot of money on the lease for this building, and they’re simply not bringing it in. He’s also in trouble, up in New York, by the way, you have a lot of shops that have set up store in is a fifth Avenue tower, but they’re all leaving now because they were there.
Their buildings were being renovated. They came and they found a spots at the bottom floor of Trump tower. They’re leaving. So that’s going to cost Trump millions of dollars in lost rent. The guy’s businesses are struggling. He has billions of dollars coming due in loans that he likely does not have on hand. So I would not be surprised in the very near future to regard some of these properties, maybe not the DC hotel, certainly not the tower in New York, but some of his properties in order to pay off these loans might be getting for sale signs pretty shortly.
Yeah.