With the proceeds from the sale, the Trump Organization could potentially double the money it originally spent to convert the building into a luxury hotel.
"While in office, President Trump received preferential treatment potentially worth millions from a foreign bank," a statement by the Oversight Committee said.
The site will be one of the president's most used and most profitable venues since he came into power in 2016.
Shortly after President Donald Trump said Wednesday he "probably" will give his acceptance speech for the Republican presidential nomination at the White House, prices for the Trump International Hotel in D.C. increased by over 60 percent.
The hotel industry has been impacted by the coronavirus outbreak, but Trump hotels continue to benefit Donald Trump's political career.
"That was the risk from Day One: foreign governments and others trying to seek favor because we know Trump pays attention to this," Democratic Representative Gerry Connolly said.
"Don't let the community suffer," one local official asked of the president.
The satirical website, registered on June 20, parodies some of the recent anti-immigration rhetoric from the U.S. president.
"There must be 60 hotels in Washington. I don't believe the mattresses in the Trump hotel are any better. This is just weird," Richard Painter said.
The messages "Trump Is a Serial Sexual Assaulter," "Groper-in-Chief" and "Morally Unfit" were also to be projected on Trump's Washington, D.C., hotel.
Trump "doesn't even hold himself accountable to his own standards," a staff attorney for an advocacy group said.
Trump's name has already been removed from the waterfront property.
The national committee also plans to host its spring meeting at the president's Doral property in Miami.
Markets are partially to blame for Trump's decline, but the decrease in net worth is also due to his personality and image.
Altogether, 64 groups that could present conflicts of interest spent money at Trump locations.
To stop Trump, will Democrats change how Congress works?
An employee directed a staffer to avoid photographing Linda McMahon with a "Trump Hotels" sign, documents show.
This will be the first Trump Organization project not to bear the president's name.
Trump lawyers did not comment when asked if profits from foreign governments have been donated, as promised, while Kuwait plans $60,000 party at Washington hotel.