The Trump Organization’s plan to sell the lease to its high-end hotel in D.C. is on hold on account of the economic slowdown created by the coronavirus pandemic, according to The Washington Post.
The company, still owned by President Donald Trump but run by his two eldest sons, brought on JLL (NYSE: JLL) in October to market the hotel and set a Jan. 23 deadline for potential bidders. But the pandemic and its impact on financial markets have necessitated a delay until the real estate and hotel industries are up and running again, according to the report.
Jeffrey Davis of JLL told the Post the Trump International Hotel, Washington D.C. has gained interest from “only the most discerning buyers.” The hotel is in the renovated Old Post Office on Pennsylvania Avenue NW, and The Trump Organization operates the property on a long-term lease with the federal government. The General Services Administration would be involved in any sale of the lease.
The Trump Organization said in October…
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