“By filing these misleading public disclosures, President Trump grossly exaggerated the financial health of the Trump Hotel. “However, the records obtained by the committee show that the Trump Hotel actually incurred net losses of over $70m, leading the former president’s holding company to inject at least $24m to aid the struggling hotel. The Trump Organization is reported to be nearing a sale of the lease.Īccording to the House committee: “On his federally mandated financial disclosures, President Trump reported that the Trump Hotel earned him over $150m in revenue during his time in office. His Washington hotel became a place for Republicans to be seen and to do business but it suffered under the pandemic and after Trump’s defeat by Joe Biden last November. Trump has faced wide-ranging questions about alleged self-dealing to his businesses while he was in power. The House oversight committee said the deception was detailed in documents released by the General Services Administration (GSA), which leased the Old Post Office building on Pennsylvania Avenue to the Trump Organization in 2011 and which signed off on its operation of the hotel after Trump entered the White House, just steps away.
