Foreign governments spent more than $3 million at then-President Donald Trump’s hotel in D.C., Trump International Hotel, during the first three years of his presidency, according to new information released by House Oversight Committee Democrats.
Trump is such an awful businessman that he’s losing money from the foreign entities who are using his properties and has to inject his own money (lord knows where that comes from) into them to keep them afloat.
That’s the real news. They all but put up a marquee saying “check in here to curry favor with the preznit” and still lost $70 mil. Good luck selling that “asset”. Some real estate is a money losing alligator (bubble-speak) that can’t be sold at any price.
Until I see the audit I’ll think that it’s either money laundering or a bustout or both. Consulting fees, management fees, licensing fees for the use of the tfg name, no-shows, sweetheart vendors…
Foreign governments spent more than $3 million at then-President Donald Trump’s hotel in D.C., Trump International Hotel, during the first three years of his presidency…
Yeah, and how much do you suppose that they left in “tips”?
Um, that’s just what the Trump Organization claimed, you know, in order to avoid paying taxes. I wouldn’t believe it. Never forget: “That makes me smart.” I’d like to make him smart, all right, right in his big fat ass.
Seems like you haven’t figured out how Trump operates. One of the reasons the place is losing so much money is that Trump personally or through his children collect huge “consulting” fees from his businesses; so like the Taj Mahal or Trump Shuttle went bankrupt he personally came ahead from those fees. And as for the value of the “asset” that is someone else’s problem, Deutsche Bank or whoever financed the place. Trump seldom invests his own money, he saddles the businesses with a huge amount of debt, that is the other reason the Hotel where all foreign government stay and a freaking casino can end up losing money. Trump always leaves the creditors with an overtly inflated “asset” as collateral. That is the reason why no US -base bank would lend him money.
Bear in mind that the $3.75 million figure is based on “the Trump Organization’s own method of calculating its profits from foreign governments.” The actual figure is undoubtedly much higher. Perhaps even as high as Don Jr.
The loses might be real, but remember those 70 million didn’t came out Trump’s pocket, those came from the Russian money launderers or whoever is financing the place. And at the end Trump is just going to walk out and leave them with a worthless asset, like he has done in numerous ocassions.