Trump Claimed His D.C. Hotel Made $150 Million. House Panel Says It

Former President Donald Trump repeatedly misled the federal government about the “financial situation” of his Washington, D.C., hotel, according to a House Oversight and Reform Committee investigation.

A trove of documents obtained by the committee from the General Services Administration were released Friday, detailing the Trump property’s finances and showing that the hotel had actually lost tens of millions of dollars while the ex-president was claiming it had made more than $150 million. In a 27-page letter to the General Services Administration, the House panel committed to further investigation.

The release was first reported by NBC News and The Washington Post.

“The documents provided by GSA raise new and troubling questions about former President Trump’s lease with GSA and the agency’s ability to manage the former President’s conflicts of interest during his term in office when he was effectively on both sides of the contract, as landlord and tenant,” Committee Chairwoman Rep. Carolyn Maloney (D-NY) and Subcommittee on Government Operations Chairman Gerry Connolly (D-VA) wrote to GSA Administrator Robin Carnahan.

According to the documents, Trump reported an income of $156.5 million from the hotel between 2016 and 2020. However, while reporting that income, the hotel actually lost more than $73 million during that four-year period, a figure Trump did not report. Throughout that period, one of Trump’s holdings companies, DJT Holdings LLC, also loaned the hotel $27 million, $24 million of which was converted into capital contributions that were not repaid.

“Taken together, these documents show that far from being a successful investment, the Trump Hotel was a failing business saddled by debt that required bailouts from President Trump’s other businesses,” Maloney and Connolly wrote. “In deciding to conceal the Trump Hotel’s true financial condition from federal ethics officials and the American public, President Trump hid conflicts of interest stemming not just from his ownership of the hotel but also from his roles as the hotel’s lender and the guarantor of its third-party loans.”

The hotel, which took the place of the Old Post Office building, opened in September 2016 just before Trump secured the presidency. It became known throughout the Trump years as a mandatory stop for Trump White House officials, excommunicated aides, and other GOP lawmakers and influencers, raising questions over potential ethical violations.

It was also known for its repeated hosting of foreign officials, some of whom stayed there as a means of currying favor with the image-obsessed president. This led to concerns from Democratic lawmakers that Trump was benefiting from foreign investments, potentially violating the Constitution’s Emoluments Clause.

The GSA documents help support that conclusion, the committee said Friday, with hotel records showing more than $3.75 million spent at the hotel by foreign officials between 2017 and…