The Trump Organization made a nearly $2 million profit with its Pennsylvania Avenue NW hotel through the first four months of 2017, according to The Washington Post, beating expectations.
The holding company, which carries all of the businesses of President Donald Trump, had expected a $2.1 million loss for the first four months of the year, according to the report.
The unexpected profits are largely being driven by the high room prices — positioning it as perhaps the District’s most expensive hotel — as well as business in its bar and restaurant, according to the report.
Guests have paid an average of $652.98 per night to stay at the Trump International Hotel this year, according to the report. That mark surpasses the $495 a night average at some of the District’s other ultra-luxury hotels like the Hay-Adams and Willard, according to the report.
“The Trump International is, if not the, then one of the top rate-getters in the city,” Marc Magazine, an executive at the real…Read the full story from the Washington Business Journal.
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