Donald Trump Jr. Takes Control Of Old Post Office Building Hotel
President Donald Trump has officially relinquished control of his new DC hotel, which has caused concerns over his lease agreement with the General Services Administration.
The president owned 76% of the company that operates the hotel, which underperformed its own revenue expectations in its first two months.
The document does not specify if Trump still owns a stake in the company that his son now operates. The arrangement his lawyer outlined at a press conference on Jan. 11 would have Trump put his ownership stakes in a trust but not divest from them, or create a blind trust, as previous presidents have done.
House Democrats last month called on the GSA to address the potential violation of the lease agreement. The GSA, an agency for which Trump has yet to appoint a permanent administrator, said last month it was reviewing the issue to determine if the company is in compliance with the lease. It has yet to announce the results of that review. [WAMU]