UPDATE 1-Trumps weigh selling rights to their Washington hotel -WSJ

UPDATE 1-Trumps weigh selling rights to their Washington hotel -WSJ
UPDATE 1-Trumps weigh selling rights to their Washington hotel -WSJ  

(Adds JLL, background)

WASHINGTON, Oct 25 (Reuters) - The Trump Organization is seeking to sell the rights to its Washington, DC-based hotel, a property at the heart of litigation alleging President Donald Trump violated anti-corruption provisions of the U.S. Constitution, the Wall Street Journal reported on Friday

The possible license sale, being marketed by real estate company JLL, stems in part from ethical concerns regarding the family's profits from the property, the Journal said, citing a company statement.

"People are objecting to us making so much money on the hotel, and therefore we may be willing to sell," said Eric Trump, Trump's son and an executive vice president at the company, according to the report.

Reuters could not immediately confirm the report. The Washington Post also reported the discussions, citing two people familiar with them.

Housed in a historic building on Pennsylvania Avenue in the heart of the nation's capital, the gilded hotel has been a lightning rod even before Trump took office in the White House a few blocks away.

Trump's ownership - which began before his presidency - has prompted three lawsuits alleging it violates the U.S. Constitution's anti-corruption "emoluments" provisions that ban the U.S. president from accepting gifts or payments from foreign governments without congressional consent.

U.S. lawmakers, state attorneys general and a watchdog have filed lawsuits alleging that Trump's failure to disentangle himself from his family business exposes him to inducements by officials and others seeking to curry favor.

The site has attracted protesters and disputes over its restaurants. It has also become a known gathering spot for Trump associates, Republicans and others in the president's orbit.

The Trumps are seeking more than $500 million for the rights, the Journal reported, citing people familiar with the matter. (Reporting by Susan Heavey and Jan Wolfe; Editing by Dan Grebler)


More Related News

Trump dismisses Sondland
Trump dismisses Sondland's damaging testimony, says 'I don't know him very well.'

Reading from hand-written notes, Donald Trump focused on Sondland's remarks that the president didn't tell him directly there was a quid pro quo.

A White House Now
A White House Now 'Cannibalizing Itself'

WASHINGTON -- As Lt. Col. Alexander S. Vindman sat in a stately chamber testifying Tuesday, the White House posted on its official Twitter account a message denouncing his judgment. His fellow witness, Jennifer Williams, had barely left the room when the White House issued a statement challenging her

IRS Whistleblower Cites Pressure on Trump Audit
IRS Whistleblower Cites Pressure on Trump Audit

WASHINGTON -- Senate Finance Committee staff members met this month with an Internal Revenue Service whistleblower who has alleged that senior Treasury Department officials tried to exert influence over the mandatory audit of President Donald Trump's tax returns, a congressional aide said Monday.The

Key takeaways from Holmes and Hale
Key takeaways from Holmes and Hale's impeachment inquiry testimonies

Holmes testified to an overheard conversation between Gordon Sondland and Donald Trump.

Donald Trump says he would
Donald Trump says he would 'consider' providing impeachment testimony

Responding to request from Nancy Pelosi, Trump tweets he doesn't like "giving credibility to this No Due Process Hoax" and "I like the idea."

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Economy