The Trump Organization plans to sell its Washington, D.C. hotel, according to multiple reports.
The Wall Street Journalfirst reported about the $375 million deal between the Trump Organization and a Miami investment firm.
According to The Associated Press, the deal is more than $100 million less than the Trump family reportedly tried to get for the hotel in 2019.
The Waldorf Astoria brand will replace Trump's name on the hotel, NPR reports.
The Trump International Hotel opened in 2016.
It became a source of controversy during Trump's presidency. It was the site of meetings and stays for Trump loyalists and foreign governments.
NPR reports that Congressional Democrats said foreign governments had paid an estimated $3.7 million to rent rooms in the hotel.
The sale will reportedly have to be approved by the federal government because it leased the Old Post Office building to Trump in 2013.