Donald Trump’s family-run company reached a deal to sell the rights to its Washington, D.C. hotel for $375 million, after which the property will be branded as Waldorf Astoria, according to people familiar with the matter.A Miami-based investment firm, CGI Merchant Group, is in contract to acquire the hotel lease for the Trump International Hotel, situated less than a mile away from the White House on Pennsylvania Avenue, the people said, who declined to be identified because the matter is private. The transaction is expected to be completed in the first quarter, they said.The buyer plans to remove the Trump name and reached a deal with Hilton Worldwide Holdings Inc. to convert the property to a Waldorf Astoria managed by Hilton. The Wall Street Journal reported the agreement earlier Sunday.
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