newly elected president donald trump A bid is being made to save the failing Waldorf-Astoria hotel in Washington, D.C., and designate it once again as the Trump International Hotel, The Post has learned.
Three sources familiar with the situation said the incoming commander-in-chief’s company, the Trump Organization, is considering options that include a licensing deal or possibly even buying back the lease. Government-owned, 125-year-old Old Post Office building.
“Our family has saved the hotel once. If asked, we would save it again,” Eric Trump told The Post in an exclusive interview.
The luxury lodge at 1100 Pennsylvania Avenue — just a stone’s throw from the White House — became a magnet for GOP insiders, D.C. lobbyists and fund-raisers after Trump opened the hotel in 2016.
According to FEC data, Republican Party activists spent $266 thousand there in the first six months alone.
But according to an insider, when Hilton, which manages the Waldorf brand, took it over and the real estate mogul ended ties with the hotel, visitor numbers dropped.
It is still “to be determined” whether the Trump Organization will seek to gain full control of the hotel by buying back the lease sold in 2022 or agree to a licensing deal, the source said.
Sources close to the property said the president-elect is eyeing potential hospitality investments in the D.C. area.
But he also said there had been no formal contact from the Trump Organization about the Waldorf Astoria.
historical towerBuilt in the Classical Revival style, it features 263 rooms, including 35 suites, and a 6,300-square-foot, two-story townhouse with a private entrance. Prices start at around $600 per night.
A Hilton Group spokeswoman did not respond to The Post’s request for comment.
Any potential acquisition would also raise questions about the future of the hotel’s Bazaar restaurant, which is run by a Trump-bashing celebrity chef. Jose Andres, a longtime Democrat donor.
A spokesperson for the World Central Kitchen boss declined to answer questions when contacted by The Post on Thursday.
The Trump Organization sold its 100-year lease to a group of Miami-based investors in 2022. To ex-Yankees slugger Alex Rodriguez for $375 million.
The deal with CGI Merchant Group, announced in November 2021, sees Hilton managing day-to-day operations.
But in August the company lost control of the leasehold rights to its lender, Merchant Bank BTD and MSD Partners, when it defaulted on its $285 million loan.
With high interest rates creating challenges for investment, this paved the way for BTD and MSD Partners to acquire the lease at a reduced price of $100 million in a foreclosure auction.
The Post has contacted CGI for comment.
Spokespeople for BTD&MSD Partners, the merchant bank and investment firm run by former Goldman Sachs executives Greg Lemkau and Byron Trott, declined to comment.
(TagstoTranslate)Business(T)Politics(T)Donald Trump(T)Hospitality(T)hotel(T)Republican(T)Trump International Hotel & Tower(T)Waldorf Astoria(T)Washington DC
