The Trump Organization is considering the sale of the rights to its Washington, D.C., hotel amid scrutiny of the property involving federal ethics laws.
The building that houses the Trump International Hotel is owned by the federal government but leased to the Trump Organization. The 121-year-old building is the former Old Post Office and is located blocks from the White House in the heart of the city.
"Since we opened our doors, we have received tremendous interest in this hotel and as real estate developers, we are always willing to explore our options," Eric TrumpEric TrumpMary Trump calls Donald Trump Jr. her 'stupidest' relative Eric Trump lawyer in New York attorney general's fraud case quits Eric Trump to speak at conference led by prominent anti-vaxxers MORE, a company executive vice president and son of President TrumpDonald TrumpTrump criticizes Justice for restoring McCabe's benefits Biden: Those who defy Jan. 6 subpoenas should be prosecuted Hillicon Valley — Presented by LookingGlass — Hackers are making big money MORE, said in a statement.
“People are objecting to us making so much money on the hotel, and therefore we may be willing to sell," he added.
The real estate firm JLL has been brought on to market the property, The Wall Street Journal first reported Friday. The newspaper reported that company said the move is partially motivated by concerns about the Trump family's adherence to ethics laws.
"We look forward to working with Jones Lang LaSalle and simply could not be more proud of what we have accomplished as an organization,” Eric Trump said in his statement, which was obtained by The Hill.
People familiar with the matter told The Journal that the company hopes to gain more than $500 million for the leasing rights. The lease is reportedly about 100 years long.
The Trump family's business was thrust into the spotlight last week after a now-scrapped plan was announced to hold the Group of Seven (G-7) summit at the company's Miami-area resort. Acting White House chief of staff Mick MulvaneyMick MulvaneyJan. 6 committee issues latest round of subpoenas for rally organizers The Hill's Morning Report - Presented by Alibaba - To vote or not? Pelosi faces infrastructure decision Jan. 6 panel subpoenas 11, including Pierson, other rally organizers MORE had said the Trumps would not profit from the decision.
Questions were also raised when Vice President Pence stayed at a Trump property in Doonbeg, Ireland, rather than in Dublin, where he was meeting with Irish officials.
Democrats and outside watchdog groups have long raised questions about Trump profiting off his D.C. hotel and other Trump-branded properties while in the White House. The hotel in Washington opened shortly before Election Day in 2016.
Trump broke precedent when he was elected president by declining to sell his businesses. He instead put them into a trust controlled by his two adult sons.
– Brett Samuels contributed reporting