Alex Rodriguez is still hitting like he used to, but instead of doing it for the New York Yankees on the field, he is now doing it in the business world.
The 46-year-old professional baseball star and a group of Miami businessmen recently received approval from the General Services Administration (GSA) to purchase the iconic Trump International Hotel in Washington, which belonged to former US President Donald Trump from 2017 to 2021.
It should be noted that the five-star hotel was inaugurated in September 2016, in the middle of the election campaign, a couple of months before Trump won the presidential election.
Bad business for the former president
After the transaction was finalized, which The New York Times assures was in exchange for $375 million, the Trump Organization issued a statement to make it official that the property was purchased by CGI Merchant Group and will therefore be renamed Waldorf Astoria, in allusion to the luxury hotel chain.
Likewise, Trump’s company affirmed that the sale had “a fantastic result for both parties”.
However, local media agree that the hotel, where important businessmen and politicians stayed, lost $70 million between 2016 and 2020.
Change of image
“The Trump International Hotel in Washington DC has become one of the most iconic hotels around the world,” he emphasized in the Trump Organization’s statement.