A US congressional committee has asked federal regulators to terminate the Trump Organization’s lease for its signature Washington DC hotel, citing possible irregularities in the company’s financial reports.
If the committee gets the go-ahead, the move could scupper the planned sale of the property for $375m to Miami investment group CGI Merchant Group, which agreed to buy the lease on the 263-bedroom Trump International Hotel in late 2021.
The sale is currently in a 45-day review by the General Services Administration, the federal agency that leased the property, known as the Old Post Office Building, to the Trump Organization in 2013 for redevelopment as a five-star hotel.
