By Andrew Kugle
President Donald Trump’s company made $1.97 million profit at the Trump International Hotel in Washington, D.C. in the first four months of this year.
The Trump International Hotel has made $18 million in total, far exceeding expectations of the organization, according to the Wall Street Journal. The Trump Organization expected the hotel to lose $2 million in the first four months of 2017. Rates for the hotel are higher than nearby competition, and the Wall Street Journal reports the hotel charges 60 percent higher than its budgeted prices.
“From January to April, the average daily room rate was $660.28 compared with $495.91 for comparable hotels, according to the documents,” the Journal wrote.
However, the occupancy rate for the Trump hotel is low for the area. It has a 44 percent occupancy rate, as opposed to the 70 percent for comparable hotels.
The hotel is a few blocks away from the White House near the Washington Mall, and has now become a tourist attraction of its own since Trump became president.
Source:: Washington Free Beacon