Aug 11, 2017

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

Stef W. Kight

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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  1. Global: Total confirmed cases as of 2 p.m. ET: 640,589 — Total deaths: 29,848 — Total recoveries: 137,270.
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  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.
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