(National Sentinel) Great, Still: When then-GOP candidate Donald J. Trump opened Trump International Hotel in Washington., D.C. — “on time and under budget,” he said last year — it wasn’t slated to turn a profit for perhaps as much as two years.
But instead, the property has raked in a tidy $2 million in just four months’ time, surprising most observers who note such luxury properties take a long time to become viable.
As reported by The Daily Caller, there have been frequent protests at the hotel as well, which should have further dampened profits.
But the hotel, which is a refurbishment and reconstruction of an old Post Office close to the White House, has become a hot gathering spot for Trump supporters, fans, tourists, and conservative groups.
Axios noted that the hotel was expected to lose $2 million in its first year, but instead it has produced nearly the same amount in profits. One potential reason is that room rates were increased following Trump’s inauguration.
“Even the critics of the Washington property acknowledged that it actually turned out better than maybe expected — one of the better of the Trump properties, if not among the best,” Bjorn Hanson, a professor of tourism and hospitality at New York University, told The Daily Beast.
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