Slate business reporter Zach Everson explained that former President Donald Trump's Washington, D.C. hotel might not be able to hold on for much longer.
During his presidency, the halls were flooded with the MAGA elite. Former campaign staff and far-right allies were found at the bar and held meetings in restaurant booths. The Washington Post described international visitors bragging to the president that they were staying at his hotel in meetings and tweeted about it.
"Once, pictures from the hotel lobby showed Trump Cabinet members, foreign leaders, compliant GOP lawmakers, CEOs, lobbyists, Hill staffers, and the MAGA faithful," wrote Everson.
But for almost a year, the champagne has stopped flowing.
📍Trump Hotel, DC - Looks like they drained the swamp https://t.co/dgDg3HxRbp— Jane Mayer (@Jane Mayer) 1611780852.0
The impact of the pandemic on the hospitality industry has been massive. Airlines have struggled, hotels, amusement parks, resorts, and the cruise industry are all taking a big hit, despite bailouts and PPP funds. But it isn't just the poor handling of the pandemic that put the Trump Hotel in dire straights.
The chance for success was questionable, to begin with, as Trump previously steered six of the Trump Organization's hotels into bankruptcy, explained the Slate report.
"The Trump Hotel D.C. also enjoys a business plan that befuddles industry experts, a $170 million mortgage that's coming due, the scrutiny of continuing investigations, and a new landlord who—for a change—does not double as the hotel's owner," wrote Everson. "While it's unlikely the federal government will evict the Trump Organization, the ex-president's company doesn't seem happy to hang around either. It tried to unload its lease in 2019 and couldn't find someone to meet its asking price."
Everson called it a "fitting monument to the former president."
Read the full report at Slate.
