Report: Trump nears deal to sell D.C. hotel

WASHINGTON, DC - OCTOBER 26: An exterior view of the entrance to the new Trump International Hotel at the old post office on October 26, 2016 in Washington, D.C. Republican presidential nominee Donald Trump will attend the hotel's grand opening. (Photo by Gabriella Demczuk/Getty Images)

WASHINGTON, DC – OCTOBER 26: An exterior view of the entrance to the new Trump International Hotel at the old post office on October 26, 2016 in Washington, D.C. (Photo by Gabriella Demczuk/Getty Images)

OAN Newsroom
UPDATED 6:18 PM PT – Saturday, September 4, 2021

The 45th president is reportedly close to selling his Trump International Hotel in Washington, D.C. According to an Axios article published on Saturday, Trump would sell the leasing rights to a real estate developer who would later negotiate with hotel companies and rebrand the property.

The property located on Pennsylvania Avenue reportedly cost the Trump organization $250,000 a month in base rent, which was set to rise with inflation. The year of COVID was said to have had a detrimental effect on the hotel’s success.

Further details regarding the deal’s terms remain unknown, but the news outlet said representatives for Trump have been in talks with major hotel chains. Trump was reportedly looking to get $500 million for the property in 2019, but sources have said it’s likely he’ll get less.

The 45th president declined Axios’ request for comment.

MORE NEWS: La. Man Faces Murder Charges In Connection With Deadly Gas Station Shooting