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Trump Now Has More Than $100 Million In Loss At His European Golf Resorts

Donald Trump and his family, including daughter Ivanka Trump, arrive at his Trump Turnberry resort in Scotland on June 24, 2016. (Photo by Jeff J Mitchell / Getty Images) Getty Images The pandemic has been great for the golf industry, but it hasn’t been able to turn around Donald Trump’s fledgling properties in Europe. In…

Donald Trump and his family, including daughter Ivanka Trump, arrive at his Trump Turnberry resort in Scotland on June 24, 2016. Photo by Jeff J Mitchell/ Getty Images
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The pandemic has been great for the golf industry, but it hasn’t been able to turn around Donald Trump’s fledgling properties in Europe. In 2020, Trump lost $13 million at his three sites overseas, bringing his total losses there to more than $100 million, according to an analysis of British and Irish financial filings.

The trouble with Trump’s European golf business is that it’s all tied up in extravagant resorts–rather than simple clubs. Even though Covid-19 made it easy for golfers to sneak in a socially distanced round at the local course, it didn’t necessarily make people more likely to travel to big golf attractions. Trump’s resort-heavy portfolio continues to struggle.

Trump’s most famous golf resort is Turnberry, the Scottish icon that has hosted four British Opens–all before he purchased the property for $65 million in 2014. Despite spending an additional $80 million or so to spruce up the place, Turnberry has continued to lose money year after year. In 2020, the property closed from late March to mid-July, then again from late November through the end of the year, causing sales to plunge 66% to about $9.2 million. Even though the property was closed, operating losses of $4.7 million resulted from high expenses. The situation would have been worse if Trump Organization had not received a $3.2million Covid-related grant from the British government. Dating back to 2014, Turnberry has now lost a total of $68 million.

Business was similarly poor at Trump International Golf Links & Hotel, Doonbeg. Trump spent about $20 million on that property in 2014, according to Irish records, then invested at least another $13 million into it. Nonetheless, he lost $14 million there from 2014 to 2019. The worst year was 2020, when he bled $4.4 million–despite receiving government grants of $600,000. Total losses since Trump purchased the place now add up to $18 million.

Trump is the smallest golf resort in Scotland. The real estate t

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