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Trump Organization to sell Washington hotel

The Trump Organization has made a move to sell its prized Washington hotel for $375m (£279m).

Under the planned sale, the Trump International will be renamed the Waldorf Astoria and managed by the Hilton group, according to reports.

United States congressional probe found the hotel lost more than $70m during Donald Trump’s presidency.

The hotel was opened to the public in September 2016.

The Trump Organization, which bought a 60-year lease on the building, had been looking for buyers for the 263-room hotel since 2019.

According to BBC, the deal with Miami-based investment firm CGI Merchant Group is expected to be finalized in the first quarter of next year, sources told The Wall Street Journal and Bloomberg.

The 120-year-old building stands less than a mile away from the White House on Pennsylvania Avenue.