Losses at Donald Trump’s Scottish golf resorts have doubled
A Companies House report shows losses last year at Donald Trump’s two resorts more than doubled to £17.6 million.
Donald Trump boasts of making great deals, but financial records filed in the UK show he has lost millions of dollars for three years running on a couple of his more recent big investments, his Scottish golf resorts.
A Companies House report shows losses last year at the two resorts more than doubled to £17.6 million (23 million dollars). Revenue also fell sharply.
In the report, Mr Trump’s company attributed the results partly to having shut down its Turnberry resort for half the year while building a new course there and fixing up an old one.
His company has faced several setbacks since it ventured into Scotland a dozen years ago and its troubles recently have mounted.
The company has angered some local residents near its second resort on the North Sea with what they say are its bullying tactics to make way for more development.
The company also has lost a court fight to stop an offshore wind farm near that resort, drew objections from environmental regulators over building plans there in August and appears at risk of losing a bid to host the coveted Scottish Open at its courses.
Amanda Miller, a spokeswoman for the Trump Organisation, declined to comment about the results.
Mr Trump handed over management of his company to his two adult sons before becoming US president, but still retains his financial interest in it.
It is not clear how big a role Mr Trump’s setbacks in Scotland have played in the losses. In addition to the Turnberry shutdown, the company also noted in its report that it took an £8 million (10 million dollar) loss due to fluctuations in the value of the pound last year.
The company reported that revenue at the two courses fell 21 percent to £9 million (11.7 million dollar) in 2016 from £11.4 million (15 million dollars) a year earlier.