The Trump administration did not immediately respond to a request for comment. A CGI spokesman declined to comment. A person familiar with the deal says it is well on its way and could be announced in the coming weeks. The hotel has been a source of controversy – and the subject of lawsuits and investigations – since Donald Trump became president. It was a meeting place for Republicans and others who tried to please the then President. However, it also attracted the control of Democrats who believed that Trump had benefited unfairly from his presidency. The GSA, which manages federal buildings and land, leased the Old Post Office to Trump in 2012. Trump opened the hotel in 2016, when he was the Republican nominee for president. When he took office, Trump resigned from his companies, but transferred his assets to a trust run by his sons, allowing him to continue to benefit financially from the DC Hotel and its other businesses. Documents released by House Oversight The commission found that the hotel had received millions from foreign governments in payments and loan deferrals, which Trump did not disclose, raising questions about possible conflicts of interest during his presidency. The commission asked the GSA last month to terminate the lease before Trump could sell it, to bar Trump from taking advantage of the sale. The GSA said its review had determined that the sale price was reasonable. “The contractor has no basis to conclude that the sale value of the lease is commercially irrational or inconsistent with market demand,” he said. “The brokerage firm hired by the Lessee to promote the Lease told the contracting officer that there was great interest in obtaining the lease and received multiple offers in the same range as the sale price to CGI. In addition, in the contracting officer dollar per base amount (a common measure used to evaluate the sale of hosting assets) was at the same level as similar transactions ”. He added that Trump and the CGI believe that the hotel, which was not profitable under Trump, would “generate significantly more revenue than is currently being generated, relying heavily on being able to bring more guests to the hotel.” This story has been updated with additional details.
