Emoluments Much? Trump's Mar-a-Lago Doubles Membership Fee
- Author: Regina Walsh Jan 27, 2017,
Jan 27, 2017, 0:48
People connected to the Palm Beach, Florida, resort said the increase took effect January 1, CNBC reported.
The Trump Organization's premiere Florida property, The Mar-a-Lago Club in Palm Beach, has doubled its initiation fee for new members to $200,000, according to CNBC sources.
The increase, first reported by CNBC and confirmed by club managing director Bernd Lembcke in a Bloomberg interview, could boost the revenues of the Palm Beach club Trump has called the "Winter White House".
The 20-acre resort that Trump acquired in 1985 for $10 million has a main mansion with more 100 rooms, along with private quarters for Trump and his family. It will now be run by his two sons: Donald Trump Jr and Eric Trump.
President Donald Trump visited the club multiple times as both candidate and president-elect.
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The club once charged new members $200,000 for initiation fees but greatly reduced them, to $100,000, during the recession. Club membership, its website says, offers "the highest privileges and an elite lifestyle reserved for a select few". Members pay $14,000 per year in annual dues on top of their initiation fee.
And while the Trump Organization's most famous resort is raising its prices, Trump Hotels is plotting a nationwide expansion.
Trump, who has spent a lot of time at Mar-a-Lago, is expected to use his favorite resort as a winter retreat away from DC and NY.