WASHINGTON, Aug. 12 (Nsnewswire) — The luxury Trump International Hotel, blocks away from the White House, turned a 1.97-million-dollar profit in the first four months this year, according to newly released federal documents.
The Trump Organization had earlier projected that it would lose 2.1 million U.S. dollars during this period when the new hotel opened in the fall of last year, reports Xinhua.
Instead, the hotel represents a 192 percent improvement, or a 4.1-million-dollar swing from projected losses to profitability.
The hotel, which is inside the Federal-owned Old Post Office building in downtown Washington D.C., charges more than most hotels in the city, local media said Friday.
This year, the first year of Donald Trump’s presidency, guests have paid an average of 652 U.S. dollars a night to stay at the hotel, according to documents posted online recently by the General Services Administration.
In comparison, guests at competing hotels, such as the Four Seasons and Willard InterContinental hotel, have paid an average of 495 U.S. dollars a night.