The Trump Organization said Friday that it is exploring selling its lease rights for its Washington hotel, in part due to ethics concerns related to President Donald Trump profiting from business there, which includes visits by officials of foreign governments.

The announcement came a day after a House committee issued a subpoena to the General Services Administration for documents relating to its lease of the Old Post Office Building for the Trump International Hotel in Washington.

The Trump Organization is aiming to obtain more than $500 million for the lease rights to hotel, according to The Wall Street Journal, which first reported news of the potential sale.

The 121-year-old building is located five blocks from the White House, and is owned by the federal government. The Trump Organization has a 60-year lease for the site issued by the GSA.

The hotel was opened shortly before Trump's election as president in 2016.

"Since we opened our doors, we have received tremendous interest in this hotel and as real-estate developers, we are always willing to explore our options," Trump's son Eric said in a statement to CNBC.

"People are objecting to us making so much money on the hotel, and therefore we may be willing to sell," said Eric Trump, who runs the Trump Organization with his older brother Donald Trump Jr.

The Trump Organization has retained the commerical real estate services firm Jones Lang LaSalle for the potential sale of the lease.

News of the potential sale comes six days after the president abruptly reversed his plan to host next June's Group of 7 summit at his Miami golf resort. That reversal came after days of criticism from Democrats that Trump would be improperly profiting from the G-7 gathering of leaders of economically elite nations if it were held at the Trump National Doral.

Trump's Washington hotel is a well-known gathering place for associates and supporters of the president, as well as lobbyists and officials from foreign governments.