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Trump's Washington hotel saw almost $20 million in revenue

Trump's Washington hotel saw almost $20 million in revenue”

After refusing to release his tax returns, the Office of Government Ethics published a 98-page report disclosing US President Donald Trump's business revenues from 2016 up until the past few months.

He had roughly US$20 million in income from his new marquee Washington hotel, which opened just down the street from the White House last September. His revenue also grew from Mar-a-Lagos, the resort in Florida, which he calls the "Winter White House".

The disclosure report shows Mr Trump and his related business entities reported revenue of at least $US597 million, down about 3% from the $US615 million in the period a year before.

The new details were in a financial disclosure that Trump voluntarily submitted Friday to the Office of Government Ethics.

For example, Trump disclosed debts to Deutsche exceeding $50m for the Old Post Office, an historic Washington, DC, property in which he has opened a hotel.

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Trump reported liabilities of at least $110 million to Ladder Capital Corp, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida. Trump listed the resort's income as about $37 million, up from about $30 million it had taken in prior to his May 2016 financial report.

The document showed Mr Trump held officer positions in 565 corporations or other entities before becoming US president.

His incomes from many other hotels remained unchanged.

Latest disclosure puts his wealth at $1.4 billion and personal liabilities of at least $315.6 million to German, U.S. and other lenders as of mid-2017.

Revenue from television shows like "The Apprentice" fell to US$1.1 million, down from US$6 million a year earlier.

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Revenues for Mr Trump's private jet, aka TAG Air, more than doubled to $7.7 million.

His assets probably exceeded US$1.4 billion because the disclosure form provided ranges of values.

The report also showed that Mr Trump earned more on royalties for his book Art of the Deal since becoming President. Most of these companies are based in the United States, while some in Scotland, Ireland, Canada, Brazil, Bermuda and others.

When he took office in January, Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive.

Disclosure document nowhere almost as detailed as the tax records that U.S. president has refused to publish so far.

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