When you're being very legal & very cool with regard to the Emoluments Clause
bloomberg.com/news/articles/…
Great scoop by @GillianTan and @pat_clark
bloomberg.com/news/articles/…
Great scoop by @GillianTan and @pat_clark
@GillianTan @pat_clark For what it's worth, the Bellagio in Las Vegas just sold for ~$1.4m a room: bloomberg.com/news/articles/…
@GillianTan @pat_clark Very hard to compare like with like here, especially in the absence of good public numbers for Trump's hotel.
But I feel selling Trump Washington to a foreign buyer at a 50% valuation premium to a major recent deal isn't the *best* way to calm conflict-of-interest fears.
But I feel selling Trump Washington to a foreign buyer at a 50% valuation premium to a major recent deal isn't the *best* way to calm conflict-of-interest fears.
Going to be a fascinating Cfius inquiry, at any rate.
One other thing. We do know from Trump's financial disclosures that the hotel had revenue last year of $40,842,294 -- and based on 263 rooms at reasonable occupancy rates that looks like being actual revenue.
extapps2.oge.gov/201/Presiden.n…
extapps2.oge.gov/201/Presiden.n…
(at 75% occupancy the average room is turning over ~$550 a night, which looks in line with advertised rates be.synxis.com/?__utma=155059….)
That would be a price-sales ratio of 12.7. Median for hotel deals is 2.4!
As I say, the numbers we have are pretty sketchy so it's hard to draw strong conclusions. But $520m looks a very good return on the ~$200m renovation cost and ~$18m of base rent that Trump has paid here.
As I say, the numbers we have are pretty sketchy so it's hard to draw strong conclusions. But $520m looks a very good return on the ~$200m renovation cost and ~$18m of base rent that Trump has paid here.
Oops sorry it was a @wsj scoop: wsj.com/articles/trump…
