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Posted: 2021-10-08T17:13:20Z | Updated: 2021-10-08T18:16:05Z

Documents released by the House Oversight and Reform Committee on Friday show former President Donald Trump s hotel in the Old Post Office Building in downtown Washington, D.C., was losing tens of millions of dollars a year while he was in office, despite his public claims to the contrary.

In federally mandated public financial disclosures from 2016 through 2020, Trump reported that the Trump Hotel generated more than $150 million in revenue. In reality, the property accumulated losses in excess of $70 million, according to the committee.

Financial statements show the property incurred net losses of $17.7 million for the fiscal year ending in August 31, 2017; $13.5 million in 2018; $17.8 million in 2019; and $22.3 million in 2020.

The losses forced Trump to pull at least $24 million out of a holding company to boost the struggling property, and, in 2018, obtain favorable terms in a deal with Deutsche Bank that allowed him to delay making payments on a $170 million loan hed personally guaranteed.

(A Deutsche Bank spokesperson told HuffPost that the committee made several inaccurate statements regarding its loan agreement with Trump, but did not elaborate further.)

At the same time, according to an analysis by the committee, foreign governments were spending millions of dollars to rent rooms at the hotel, totaling 7,400 nights from 2017 through 2020 at the average daily rate, bringing in roughly $4 million.

While Trump claimed to have donated the foreign payments to the Treasury, the committee said Friday that the donations represented only a small portion of the actual figures.