Trump’s Irish resort losing money
NEW YORK (AP) — Donald Trump has lost money for a third year in a row at his golf club in Ireland.
Financial statements filed with the Irish government show the president’s resort on the island’s west coast lost about $2.6 million in 2016, the latest year available. The losses come amid signs of trouble at some of his other golf resorts. His two Scottish resorts, for instance, recently reported losses had doubled in 2016.
There are signs of improvement at the Irish property, though. Revenue rose in 2016, and losses are smaller, down 14 percent from a year earlier.
The Trump International Golf Links and Hotel in Doonbeg was hurt by a shutdown for 2015 and part of 2016 while the property was being refurbished. A statement by the resort’s directors says they expect it to turn an operating profit in 2017. Those results aren’t expected until late 2018.
The latest losses were first reported by the Irish Times. The newspaper quoted the general manager of the resort saying that revenue jumped an additional 10 percent in the 2017, and that the resort is enjoying “record green fee business and a steady flow of new members.”
Including the latest results, the Doonbeg resort has lost about $8.8 million in the three years through 2016. Trump bought the property in 2014.
Trump has been losing money at his two Scottish resorts for three years, too. In 2016, he posted $23 million in losses. Trump has angered local residents at a resort overlooking the North Sea in Aberdeen with what they claim have been bullying tactics over the years in an effort to expand his property.