The Trump International Hotel in DC has brought in almost $US1.97 million in profit since the start of 2017, the Washington Post reported Friday.
Rooms at the hotel, which regularly hosts foreign dignitaries and even members of Trump’s own Cabinet, went for approximately $US652.98 a night this year.
Analyst Michael Bellisario of Robert W. Baird & Co told the Post that rate is “three times the average rate.”
The Post reports that even though the Trump Organisation expected the DC hotel to lose $US2.1 million in the first four months of Trump presidency, the hotel brought in 192% more than expected by August.
Trump’s ability to profit from the DC hotel while in office has raised multiple ethical concerns since he came to the White House. According to The Post, Trump said he turned the hotel over to his sons but still retained ownership rights that allows him to, with time, still profit from the building.
“What makes all of this particularly galling is that we now have the unprecedented situation where the President of the United States is both the landlord and tenant of a federal building,” Rep. Peter A. DeFazio said in a statement.
Experts interviewed by The Post said that the Trump International Hotel is currently the most expensive hotel in Washington — partly because it has become a prestigious meeting ground for high-profile conservative leaders from around the world.
That said, the hotel still has a fairly low occupancy rate — 42.3% compared to about 70% in other DC hotels. Still, the high price of the rooms and extravagant food and beverage tabs (on average, guests spend a total of $US8.2 million on food and drinks at the Trump International this year) allowed Trump’s DC hotel to not only not lose money but bring in a high profit.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.