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Trump's flagship Washington DC hotel 'loses more than a million dollars'

The Independent logo The Independent 25/01/2017 Matt Broomfield
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Donald Trump's flagship Washington DC hotel lost $1.1 million in its first two months, according to a letter from Democratic politicians that argues his new status as US president has breached the hotel's contract.

The 263-room luxury hotel opened in November 2016, in a century-old post office building which is part of the Pennsylvania Avenue National Historic Site. The minimum nightly rate is $735, while one top-end suite was reportedly available for $500,000 during inauguration week.

There were protests when Mr Trump won the lease, given his track record of bankruptcies and his lack of experience in preserving or caring for historic buildings. Renovation works cost around $2m, and the Trump Organisation is believed to pay around $3m a year in rent.

Referring to his historic bankruptcies during a Republican presidential debate, Mr. Trump said: "I've done it four times out of hundreds, and I'm glad I did it. I used the laws of the country to my benefit."

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