Trump’s ‘crown jewel’ sign is torn down as new owners claim DC’s flagship hotel

Signs for the Trump International Hotel in Washington, DC – once described as the ‘crown jewel’ of Donald Trump’s real estate empire – came down Wednesday night just hours after new owners took over the property property.

CGI Merchant Group, an investment firm that includes former MLB superstar Alex Rodriguez and former boxing champ Floyd Mayweather, struck a deal last year to buy the hotel for $375 million.

The deal was done on Wednesday ― and the signs fell soon after:

The property lost $70 million during the Trump presidency, but the Washington Post said the sale would net the former president about $100 million in profit.

The new hotel will be managed by Hilton as a Waldorf Astoria property which is expected to reopen by summer, CGI Merchant Group said in a press release.

While the building itself is federally owned, Trump won a lease on the property in 2012 and then opened it as a hotel in 2016. After winning the presidency, it became a place for those who hoped to be seen and curry favor.

It has also been the target of ethics allegations, as lobbyists and foreign interests have spent a lot of money at the hotel, earning millions for Trump and his family.

But when Trump left town, business dried up.

“These people have no more reason to meet and try to find out what’s going on at the scene because the man is gone,” Washington Life editor Kevin Chaffee told The Guardian. last year. “So it must be like a ghost town.”

Trump’s critics on social media bid the signs a not-so-loving farewell:




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