Ebene News – CA – Trump’s Scottish golf course records more losses


In this July 14, 2018 file photo, US President Donald Trump walks off the 4th green while playing at Turnberry Golf Club in Turnberry, Scotland (AP Photo / Peter Morrison, file)

US-built golf course President Donald Trump in Scotland reported continued losses in 2019, accounts filed with the UK business register and released on Thursday showed

Trump International Golf Club Scotland Ltd (TIGCS), which owns and operates the Trump International Scotland course, clubhouse and small hotel, said that despite an 18% increase in revenue, losses increased 3% to 1 £ 1 million (1 USD5 million)

He said green fee rates and membership demand were increasing and he had expanded his event facilities to meet the additional demand But the payroll and other costs have also increased

The course, north of Aberdeen, has not posted a profit since it opened in 2012

The company said its performance in 2020 was severely affected by the coronavirus pandemic, which forced the course to close for part of the year and limited the number of guests due to social distancing rules and curfews He has not released figures for 2020

TIGCS said “significant progress” has been made on a plan to build a residential village of 550 units next to the course in Balmedie

The project could attract Trump, who put the course in a revocable trust upon taking the US presidency, over $ 150 million in profits if he can sell the homes at advertised prices, according to Reuters analysis of planning documents containing expected construction costs

However, a Reuters analysis in October found that this plan, like the development hopes of other Trump courts, faces challenges.

Despite the weaker performance of 2019 and 2020, TIGCS was optimistic about the future of the course

“Trump International continues to move up the world golf rankings and plays an important role in Trump’s global portfolio,” he said

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Donald Trump, Scotland, Aberdeenshire

Ebene News – CA – Trump’s Scottish golf course records more losses

Source: https://www.ctvnews.ca/business/trump-s-scottish-golf-course-posts-more-losses-1.5249447