WASHINGTON - U.S. President Donald Trump will host next year's Group of Seven economic summit of developed world leaders at one of his own properties, the Trump National Doral golf resort near Miami, a White House official said on Thursday.

White House acting chief of staff Mick Mulvaney said Trump would not profit from use of the property and defended the decision, which comes as the president faces ongoing criticism and congressional investigations over his finances and potential conflicts-of-interest.

Mulvaney told reporters the summit would take place at Doral on June 10-12, 2020, and that the administration selected Trump's resort after initially looking at about 12 potential locations in various other U.S. states.

"Doral was by far and away the best physical facility for this meeting," he said at a news briefing. "It's almost like they built this facility to host this event."

Mulvaney said the event would be "at cost" and that using the Trump site would save millions of dollars and was cheaper than the other potential sites.