Two Scottish golf courses owned by President Donald Trump’s family have faced another year of losses in 2019, amid warnings of the worst coming.
The filing of Trump International Scotland, which runs Trump Turnberry Golf Course, at Companies House in the UK covers the whole of 2019 and therefore does not take into account the disruption caused by coronavirus.
The course in Ayrshire achieved annual losses of £ 2.3 million ($ 3.1 million) in 2019, based on a record turnover of £ 19.66 million ($ 26.8 million), The Scot reported, making it the sixth consecutive year that he has failed to make a profit under the ownership of the Trump family.
Since Trump took over the historic property in 2014, the losses now amount to nearly £ 45 million ($ 61 million), according to the report.
The latest figures come amid warnings that the pandemic and Brexit will further affect Trump’s golf interests in Scotland.
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Meanwhile, the submission of the Trump International Golf Club Scotland, which manages the Menie Estate near Aberdeen, showed that the golf course, hotel, bar and restaurant, despite an 18 per cent increase in turnover from 2018, suffered losses from before 2019 £ 1.1 million ($ 1.5 million) according to the submission.
These latest figures are the eighth consecutive year that the golf course has shown a loss, The Scot report.
The documents from Trump International contain a statement by the director of the company, Eric Trump, the son of the president, who said that the resort activities are restricted due to coronavirus mitigation measures such as social distance and travel restrictions.
Eric Trump said the extent of the impact of COVID-19 on the company’s financial and financial results will depend on the duration and spread of the outbreak and the related impact on consumer confidence and spending, which is currently very uncertain environment. ” Newsweek contacted Trump International for comment.
London stock analyst Steve Clapham said in November that it was unlikely the Trumps would earn their Scottish golf business interests.
“At Turnberry, there are accumulated losses of £ 44 million ($ 60.1 million), and a negative equity of £ 51 million ($ 69.7 million),” he said, “It’s hard to see how Trump will get a return on its investments in Scotland, “he said. The press and journal in November.
A New York Times investigation in September found that Trump has lost $ 315.6 million on his golf courses over the past two decades. Trump’s three courses in Europe – Trump Turnberry, Trump International Scotland and Trump International Golf Links & Hotel Ireland – have reported a combined $ 63.6 million in losses, the report said.
In a stunt by the activist group led by Donkeys, the front of the Trump Turnberry course was lit up with the word “Loser” until the tension of the Village People song “YMCA”, after the defeat of the president in the election in November.