Trump’s critics argue that hotel business received from foreign governments violates the so-called redress clause in the constitution that prohibits federal agents from accepting gifts and payments from other governments. I filed a lawsuit against him.
Mr Trump’s company says it does not voluntarily seek business from foreign embassies amid possible allegations of false influence. Trump has also donated proceeds from visits to foreign government officials, including Saudi Arabia, to the Treasury.
The controversy affecting hotel interests, say those with financial knowledge, has escalated as the coronavirus pandemic hits and travel and gatherings are restricted. Even if the hospitality industry recovers, Trump’s departure from Washington has drawn some of his energy from his fortune.
However, the hotel still plays an attractive role for Trump allies and government officials, often seen in lobby bars, as well as Christian Conservative and Republican parliamentary candidates seeking Trump’s favor.
Political activities led by Mr. Trump, his family and the Republican National Committee have also spent hundreds of thousands of dollars on hotels due to frequent fundraisers. Federal Election Commission records show the Political Commission has paid more than $3 million to Washington hotels since early 2020.
According to an audit presented to home detectives, the hotel was still losing about $5 to 10 million a year before the depreciation loss was recognized. The total loss from 2016 to 2020 was approximately $74 million.
However, if the reported rental rates are completed as planned, Trump is likely to make a significant profit from the sale as he will pay more than the family’s capital investment during the renovation and opening of the hotel. The sale of the lease allowed Trump to pay back a loan he made on the property.