President Trump plans to sell his landmark Washington hotel, which opened last year near the White House, for at least $375 million, a source familiar with the transaction said on Thursday.
Mr. Trump had made little effort to market the hotel, located in the Old Post Office complex, saying in a statement that he had “realigned my business interests to focus entirely on running the country.” That effort was thrown into doubt when Congress voted last month to lift limits on Mr. Trump’s foreign business transactions.
President Trump was granted ownership of the property through a combination of a “blind trust” administered by his two adult sons and a lawyer and is expected to sell his interest in the hotel, according to the New York Times. He has the potential to earn an extra $65 million from the hotel’s future sales, based on its initial 2012 purchase price.
A spokeswoman for Mr. Trump said the president would keep his brand, but confirmed that the hotel would be sold.