Aug 11, 2017

Trump's DC hotel made more than expected — after raising rates

Arnulfo Franco / AP

The new Trump International Hotel at the Old Post Office in D.C. didn't meet revenue expectations last fall, but the hotel brought in $18 million in the first four months of 2017 — exceeding the company's goals, according to financial records obtained by the Wall Street Journal.

  • The catch: The Trump hotel bumped their room rates from the planned $416 to $660 per night. Food and drink, which also is priced higher than budgeted, made up almost half the hotel's revenue for the first months of 2017.
  • Perspective: Comparable hotels charge about $495 per night, according to WSJ, and have a 69% occupancy rate. Meanwhile, the Trump hotel charges $660 per night and has a 44% occupancy rate.
  • Why it matters: While new hotels tend to grow their revenue over time and Donald Trump no longer runs the Trump Organization, it's hard to imagine Trump becoming president didn't spark a bump in room rates.

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 2 p.m. ET: 640,589 — Total deaths: 29,848 — Total recoveries: 137,270.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 2 p.m. ET: 112,468 — Total deaths: 1,841 — Total recoveries: 918.
  3. Federal government latest: President Trump is considering a quarantine on New York, parts of New Jersey and Connecticut. He signed a $2 trillion coronavirus stimulus bill to give businesses and U.S. workers economic relief.
  4. State updates: A group of Midwestern swing voters that supported President Trump's handling of the coronavirus less than two weeks ago is balking at his call for the U.S. to be "opened up" by Easter. Alaska is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month. New York moved its presidential primary to June 23, Gov. Andrew Cuomo said Saturday.
  5. World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day. In Spain, over 1,300 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancing.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Trump considers quarantine for states near epicenter of U.S. coronavirus outbreak

President Trump speaks to the press on March 28 in Washington, DC. Photo: Sarah Silbiger/Getty Images

President Trump said on Saturday he is considering a "short term" quarantine of New York, New Jersey and parts of Connecticut — areas congruent with the New York metro area, the epicenter of the novel coronavirus in the U.S.

Reality check: These states have already taken steps to quarantine residents and promote social distancing to combat COVID-19. The governors of New York and New Jersey issued statewide stay-at-home orders last week, and non-essential businesses in Connecticut were ordered to close as of this Monday.

New York is latest state to delay primary due to coronavirus

Photo: Barbara Davidson/Getty Images

New York — the epicenter of the coronavirus outbreak in the U.S. — has moved its presidential primary to June 23, Gov. Andrew Cuomo said on Saturday.

Why it matters: 23 other states and the District of Columbia haven't held primaries yet. The White House is recommending, for now, that Americans practice social distancing and gather in groups of no more than 10 people — while many states have issued stay-at-home orders.

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