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Investment group purchases Trump hotel in DC; expected to remove Trump name

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The Miami Group is expected to remove the name Trump from the hotel and is partnering with Hilton Worldwide Holdings to brand it as Waldorf Astoria, according to the seller. The transaction is subject to the approval of the General Services Administration because the federal government owns the property.

The Wall Street Journal News first reported Of the transaction.

The CGI merchant group declined to comment to CNN. CNN contacted the Trump organization for a response.

Former President Donald Trump’s company has been in advanced talks with the CGI Merchant Group this fall to sell the hotel’s lease, CNN previously reported.
The House oversight committee recently released documents showing that DC’s property, which attracted conservative lobbyists throughout Trump’s presidency, lost $ 70 million during his tenure. The company has been trying to sell the property since 2019, but stopped last year when the epidemic nearly shut down the hospitality industry.

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