The Trump Organization has made a move to sell its prized Washington hotel for $375m (£279m).
According to reports, under the planned sale, Trump International will rename the Waldorf Astoria and managed by the Hilton group.
United States congressional probe found the hotel lost more than $70m during Donald Trump’s presidency.
Trump Organization, which bought a 60-year lease on the building, has been looking for buyers for the 263-room hotel since 2019.
Similarly, the deal with Miami-based investment firm CGI Merchant Group is expected to be finalized in the first quarter of next year, sources told The Wall Street Journal and Bloomberg.
The 120-year-old building stands less than a mile away from the White House on Pennsylvania Avenue.
BBC
