President-elect Donald Trump would like to buy back the Waldorf Astoria Hotel in Washington, D.C., a building that until two years ago was part of his vast real estate holdings. According to rumors in recent days, reported by the NY Post, the Trump Organization, is “considering options that include a licensing deal or even the possible repurchase of the lease on the 125-year-old Old Post Office building.”
Eric Trump himself, son of the vice president-elect and deputy executive director of the company, also stated: “Our family has saved the hotel once. If asked, we would save it again.” The hotel in question, in the classic revival style, has 263 rooms, 35 suites and a two-story townhouse with private entrance. Room rates start at about $650 per night.
The building formerly housed the old post office. Trump bought the building in 2016 after a heated bidding process, turning it into a luxury hotel. Two and a half years ago, the company sold the hotel to a Miami real estate group, for a whopping $375 million. After the transfer of ownership, the building was reopened as the Waldorf Astoria hotel.
When Trump purchased the edifice, located between the White House and the Capitol, the latter became a magnet for GOP insiders and Washington lobbyists. According to FEC data, Republican operatives spent $266,000 there in the first six months alone.
In the past, there have also been suggestions of conflicts of interest related to the hotel. One of the most discussed incidents, involved foreign delegations, particularly of Saudi delegations, who used to rent several rooms without actually occupying them. This practice raised concerns that it could be a way to move money in favor of Trump and his organization, in exchange for political favors.
At present, it is still unclear whether the Trump Organization will want to regain full control of the hotel by buying back the lease sold in 2022 or whether it will accept a licensing agreement. Sources close to the president-elect say the latter would be keen to invest in hospitality in the D.C. area ahead of his return to the White House.
To date, however, there has been no formal contact between his company and the current ownership of the Waldorf Astoria.
