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Trump's DC hotel lost millions despite foreign payments -U.S. House panel

WorldOct 08, 2021 06:16PM ET
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© Reuters. FILE PHOTO: The Trump International Hotel is seen in Washington, U.S. September 28, 2020. REUTERS/Erin Scott

By Jan Wolfe

WASHINGTON (Reuters) -Former U.S. President Donald Trump's showcase hotel in Washington bled millions of dollars during his time in office even as he concealed payments from foreign governments, a U.S. House of Representatives panel said on Friday.

The House Committee on Oversight and Reform said recently obtained government documents raised "troubling" questions about the Trump International Hotel, a historic building the Trump Organization leases from the federal government and a popular gathering spot for his supporters and for foreign dignitaries.

According to the Democratic-controlled committee, Trump reported that the hotel earned him more than $150 million during his time in office but actually lost more than $70 million.

The committee found that the hotel received over $3.7 million in payments from foreign governments - equal to more than 7,400 nights at the hotel, raising a potential conflict of interest.

The hotel gave a portion of that money to the U.S. government but failed to provide full details of those payments to the General Services Administration, the federal government's property manager, the committee said. Its investigation was based on documents released by the GSA.

Provisions in the U.S. Constitution prohibit the president from obtaining payments, or "emoluments", from foreign governments.

Trump's lawyers have argued in court cases that his ownership of the hotel did not violate these constitutional provisions.

A Trump Organization spokeswoman said the committee's report was inaccurate but did not elaborate.

"This report is nothing more than continued political harassment in a desperate attempt to mislead the American public and defame Trump in pursuit of their own agenda," Kimberly Benza said.

The GSA did not immediately respond to a request for comment.

Congressional Democrats say the GSA stonewalled their investigation into Trump's businesses while he was in office, but in July 2021 finally produced some of the documents they had been seeking.

The committee found that Trump moved millions of dollars through other businesses, complicating GSA's ability to enforce provisions that prohibited him from collecting profits from the hotel.

The committee also found that he concealed debts when he was bidding for use of the property in 2011 and failed to disclose what it said were favorable loan terms from Deutsche Bank AG (NYSE:DB) that financed renovations to the hotel.

The House panel found that Deutsche Bank (DE:DBKGn) allowed Trump to delay making payments on the principal of a $170 million loan for six years.

The committee said Trump did not disclose "this significant benefit from a foreign bank" while he was in office.

Deutsche Bank spokesman Daniel Hunter said that was inaccurate, without giving further details.

Trump's DC hotel lost millions despite foreign payments -U.S. House panel
 

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Comments (12)
Catholic Man
CatholicMan Oct 11, 2021 9:35AM ET
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democrats are desperate, they know he’s coming back into office in 2025
Tre Hsi
Tre Hsi Oct 11, 2021 9:35AM ET
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you said that in 2020, you were so sure no way the grandpa in basement can beat your mango messiah, how did that turn out?
John Hat
John Hat Oct 08, 2021 8:10PM ET
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T D S is real. Many Democrats still have an orange rash.
Tre Hsi
Tre Hsi Oct 08, 2021 8:10PM ET
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Democrats are not the one still showing up to Trump's rallies
Lùn Trân
Lùn Trân Oct 08, 2021 7:21PM ET
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yes ok
Lùn Trân
Lùn Trân Oct 08, 2021 7:21PM ET
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yes ok
Ethel Basset
Ethel Basset Oct 08, 2021 6:45PM ET
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Biden is a joke!
Thomas Phantom
Thomas Phantom Oct 08, 2021 6:45PM ET
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youre a joke nobody
James Pattison
James Pattison Oct 08, 2021 4:22PM ET
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Democrats govern as if elections dont have consequences… or they arent fair elections… either or… or both
Eudon Hickey
Eudon Hickey Oct 08, 2021 4:22PM ET
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Elections dont matter anymore. Democrats control the algorithem for the voting systems(they will never lose again)
Tre Hsi
Tre Hsi Oct 08, 2021 4:22PM ET
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Eudon Hickey  the voting machines?  you are still on that?  even FOX/OAN/Newsmax are staying away from that nonsense at this point......
James Pattison
James Pattison Oct 08, 2021 3:59PM ET
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Trump should have an art sale like hunter
James Pattison
James Pattison Oct 08, 2021 3:59PM ET
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Daniel Hodel what about up stairs? Can he walk up stairs??
Tre Hsi
Tre Hsi Oct 08, 2021 3:59PM ET
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so he can use the proceed to payoff more p*o*r*n stars?
Saroop Calvete
Saroop Calvete Oct 08, 2021 1:27PM ET
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What about Representative Fartwell (D - CA) and his relationship with CCP spy Fang Fang?  What about the foreign monies that Hunter B collected during his dad's time as VP? That's treasonous!
Saroop Calvete
Saroop Calvete Oct 08, 2021 1:25PM ET
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They still need to resort to fabricated news about Trump to increase ratings.  Another nothing burger from the Russia, Russia!  neomarxists.
Eudon Hickey
Eudon Hickey Oct 08, 2021 1:18PM ET
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Lost money like every other business
Chris Cummins
Chris Cummins Oct 08, 2021 1:18PM ET
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Yeah but, other businesses didn't lie about it and revert to illegal activities. And I thought Trump was the best business man in the world, yet you compare him to everyone else. Losers losing.
Chris Cummins
Chris Cummins Oct 08, 2021 10:56AM ET
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When will they finally lock him up? This illegal activity has to stop and the right ignoring it all is shocking. Says a lot about the morals and values of the right. Jesus would not have been a Trump supporter so not sure how "Christians" can be...???
Saroop Calvete
Saroop Calvete Oct 08, 2021 10:56AM ET
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Where is the "illegal activity" here?  Received $3.7 million out of $150 million revenue from foreign visitors.  Another nothing burger from the Russia, Russia! neomarxists.
Chris Cummins
Chris Cummins Oct 08, 2021 10:56AM ET
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Saroop Calvete Well, it is illegal not to disclose (did/can you read the article?). Next up is the lying, where he said he made tons of money of this hotel during this time. But he did not, he lies and people like you buy it and then defend him. Simple people.
Saroop Calvete
Saroop Calvete Oct 08, 2021 10:56AM ET
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Chris Cummins   I repeat, where is the illegal activity?  The neomarxist operatives also call Jan 6 an "insurrection" and like through their teeth like any other politician.
Chris Cummins
Chris Cummins Oct 08, 2021 10:56AM ET
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Saroop Calvete I cannot help you read or understand. Big words are hard sometimes. I am sorry for the situation you find yourself in. BTW, the earth is actually round.
james marshall
james marshall Oct 08, 2021 10:25AM ET
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When will the BS witch hunts stop. The left vs right is just a distraction.
Show previous replies (1)
Saroop Calvete
Saroop Calvete Oct 08, 2021 10:25AM ET
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Chris Cummins  Where are the "illegal activities" here?  Received $3.7 million out of $150 million revenue from foreign visitors.  Another nothing burger from the Russia, Russia! neomarxists.
Chris Cummins
Chris Cummins Oct 08, 2021 10:25AM ET
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Saroop Calvete  Read the article! Look for this paragraph "Provisions in the U.S. Constitution prohibit the president from obtaining payments, or "emoluments," from foreign governments." Not sure if you are into the Constitution as it appears you are not. LAW AND ORDER! LOCK HIM UP!
Saroop Calvete
Saroop Calvete Oct 08, 2021 10:25AM ET
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Chris Cummins   The article does not say that he received any payments from "foreign Governments" like the Biden family actually did. Th "Emoluments" clause argument had its day in court and failed.
Chris Cummins
Chris Cummins Oct 08, 2021 10:25AM ET
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Saroop Calvete You do realize that is exactly what the article stated. Read the title and then the article. Are you okay?
Chris Cummins
Chris Cummins Oct 08, 2021 10:25AM ET
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I am going to help out, "The committee found that the hotel received over $3.7 million in payments from foreign governments". It is identical to the quote above from you but you changed governments to visitors and then believed that since you changed it in a comment that it made it real! Oh your days must be filled with fun times.
 
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