Trump's company earned $40M from Washington hotel in 2017, disclosure shows

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The president's income from his company's hotel in Washington, D.C. topped $40 million last year, according to a copy of his annual financial disclosure report released on Wednesday, making the property a clear winner among a portfolio which showed mixed results.

The Trump International Hotel, located less than one mile from the White House, has emerged a favorite of the Washington power players, including lobbyists and interest groups since its opening in October 2016.

President Trump earned $40.4 million from the hotel in the 2017 calendar year, according to the disclosure released Wednesday. Last year's financial disclosure report, which covered January 2016 to mid-April 2017 indicated President Trump earned $19.7 million from the hotel over that period.

The Washington hotel's revenue in 2017 included more than $350,000 in campaign funds, according to a USA TODAY analysis of campaign finance data. More than 60% of that came from events hosted by the Republican National Committee.

The hotel's customers in 2017 also included officials or lobbyists for the governments of Malaysia, Kuwait or Saudi Arabia, according to public disclosures and event announcements. The hotel hosted events for a range of domestic business interests, from the National Mining Association to the National Confectioners Association.

The Trump Organization did not immediately respond to a request for comment.

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Unlike previous presidents, Trump continues to own a sprawling international business empire whole holding office and has not divested from it, which has drawn concern from ethics advocates. The Washington hotel is at the center of multiple lawsuits alleging President Trump is violating the emoluments clause, which prohibits U.S. officials from accepting gifts or titles from foreign states without congressional approval. Trump also refused during the campaign, and since, to release copies of income tax returns.

The hotel has become a destination for politicians and others who might want to influence the president, and has been making money "hand over fist" while other businesses in Washington struggle, said Jordan Libowitz, communications director for Citizens for Responsibility and Ethics in Washington.

"Are people going there and spending this huge amount of money there in an effort to curry favor with the president? It's something we're going to have to keep asking," he said.

CREW is one of several groups that have sued the president over his ownership of the hotel potentially violating the Constitution’s rules about corruption. In March, a federal judge in Maryland refused the Justice Department’s plea to dismiss a lawsuit by Washington D.C. and the State of Maryland. With legal standing to sue the case will continue over the summer. CREW's lawsuit alleging the same emoluments issue was dismissed in December on procedural grounds.

In February, the Trump Organization donated $151,470 to the United States Treasury as part of a pledge to donate foreign government profits from all its of properties. The company has not released a detailed accounting of its foreign customers.

Across the rest of the president's multinational business empire, results were decidedly mixed.

President Trump reported about $246 million in income from his 15 golf courses and his private club at Mar-A-Lago in Florida. Adjusted for monthly revenue generation, most of his courses were relatively unchanged from the president’s last financial disclosure last summer.

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But income is just one measure of the health of his golf empire. Trump’s big investment into Trump International Golf Links Ireland in Doonbeg lost about $2.3 million in 2016, according to filings with the Irish government.

Eric Trump told the Irish Times they continue to see increased business at the property on Ireland’s west coast. They expected to lose money in 2017.

Trump’s highest income-generated clubs remain Mar-A-Lago and Trump International at Doral near Miami combining for about $100 million. His lowest income-generator domestically remains the course in New York's Hudson Valley, from which his income in 2017 was $4.3 million.

Larry Hirsch, a golf property appraiser, said Trump’s courses are hard to analyze because the disclosures don’t report capital expenses or other expenses.

“He’s a divisive individual and there are a lot of people that really hate him and won’t support his properties,” Hirsch said. “Conversely there are people that love him and will go out of their way to play there, or get close to him.”

Gregory Korte, John Fritze, Fredreka Schouten and Christopher Schnaars contributed to this report.