Trump hotel lost $70M during presidency, got help from bank
ABC News
Former President Donald Trump’s company lost more than $70 million operating his Washington D
NEW YORK -- Former President Donald Trump's company lost more than $70 million operating his Washington, D.C., hotel while in office, forcing him at one point to get a reprieve from a major bank on payments on a loan, according to documents released Friday by a House committee investigating his business.
In addition to the payment delay, the Trump Organization also had to inject $27 million from other parts of its business to help the hotel, according to documents released by the House Committee on Oversight and Reform. The committee said financial statements it obtained show the losses came despite an estimated $3.7 million in payments from foreign governments, business that government ethics experts say Trump should have refused because it posed conflicts of interest with his role as president.
The Trump Organization did not immediately respond to requests for comment.
The documents from the committee, the first public disclosure of audited financial statements from the hotel, show steep losses despite a brisk business while he was in office from lobbyists and businesses and Republican groups.
