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Trump hotel lost $70M despite millions in foreign business

Trump Business Washington Hotel
Posted at 2:18 PM, Oct 08, 2021

NEW YORK (AP) — Former President Donald Trump's company lost more than $70 million on his Washington, D.C., hotel during his four years in office.

That's according to documents released Friday by a congressional committee investigating his business.

The House Committee on Oversight and Reform says the losses came despite an estimated $3.7 million in revenue from foreign governments, a business that ethics experts say Trump should have refused because it posed conflicts of interest with his role as president.

According to the Associated Press, the committee said business was so bad that $27 million had to be injected from the Trump Organization.

The news outlet reported that the money came from other parts of its business.

The committee also says Trump's company got special treatment from Deutsche Bank to delay payments on a $170 million loan tied to the property.

In a statement, the Trump Organization said the Democrat-led committee's findings were false and misleading, and they did not receive preferential treatment from a lender.