CGI Merchant Group purchases Trump hotel in DC; expected to remove
The Miami group is expected to remove the Trump name from the ornate building located a short walk from the White House and is partnering with Hilton Worldwide Holdings to brand it a Waldorf Astoria, according to the person familiar. The deal is subject to approval by the General Services Administration (GSA), which will conduct a 60-day review, because the federal government owns the property.
The CGI Merchant Group declined to comment to CNN. CNN has reached out to the Trump Organization for comment.
Since then, the House Oversight Committee had been investigating conflicts of interest regarding GSA’s management of the Trump hotel lease.
The documents released by the Oversight Committee showed the hotel received millions from foreign governments in payments and loan deferral, which Trump did not disclose, raising questions about potential conflicts of interest during his presidency.
The disclosure marked the first time that congressional investigators had reviewed and released details of the former President’s financial information, though the Trump Organization had challenged the committee’s understanding of accounting and denied any wrongdoing.
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