The Trump Organization is understood to have agreed a $375m (£279m) deal to sell its 263-bedroom hotel near the White House in Washington DC.
Miami-based investor CGI Merchant Group is understood to be buying the hotel and is said to be in talks to replace the Trump International brand with Hilton’s Waldorf-Astoria.
Any deal on the property, which lost more than $70m during Donald Trump’s presidency, must be approved by the federal government, which leased the Old Post Office building on Pennsylvania Avenue to Donald Trump in 2013 on a 60-year term.
