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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump's Scotland Golf Resorts Lost More Than $8 Million in 2020
Donald Trump's golf resorts in Scotland lost more than $8 million (£6.6 million) in 2020, records show.
Both of the former president's resorts in the countryTrump Turnberry in Ayrshire and Trump International Golf Links in Aberdeenshiresuffered substantial losses last year despite receiving millions in government grants, according to financial reports their operating companies filed with the U.K. government this week.
Trump Turnberry saw turnover plummet from $26.37 million (£19.7million) in 2019 to $8.97 million (£6.7 million) in 2020, according to the report filed by Golf Recreation Scotland Ltd, which owns the resort. The company saw an operating loss of $7.1 million (£5.3. million) in 2020, the records show. It lost $2.72 million (£2.3 million) in 2019.
Trump International Golf Club Scotland Limited, which owns Trump's resort in Aberdeenshire, saw turnover drop from $4.38 million (£3.3 million) in 2019 to $1.47 million (£1.1 million) in 2020, according to its report.
Read more: https://www.newsweek.com/donald-trump-scotland-golf-resorts-lost-8-million-2020-1663185
ProfessorGAC
(65,138 posts)No surprise.
TexasTowelie
(112,368 posts)ProfessorGAC
(65,138 posts)Debt service is huge because the TO isn't getting any 2.2% RLOC terms.
They're likely paying 1.5-2% above industry standard. 4.5-5% interest on $8 billion in debt is a load of money, and it excludes any repayment of principal.
That they lose money is completely unsurprising.
Takket
(21,611 posts)tenderfoot
(8,438 posts)But student loan forgiveness!!!
old as dirt
(1,972 posts)doc03
(35,362 posts)fleecing his voters.
sarcasmo
(23,968 posts)NCjack
(10,279 posts)ProfessorGAC
(65,138 posts)...are mostly more hype than anything else.
95% of regular golfers don't experience the game any better at $400 a round than they would at $30.
The course where I play is $1,200 per year, including the cart!
Even rich golfers don't need $400 a round golf courses. Even though they've got the money, they're still just wasting it.
NCjack
(10,279 posts)ProfessorGAC
(65,138 posts)...too many working folks have those courses on their bucket lists.
Since there's way more of them than the very rich, the rich have to play with them anyway.
The hustlers always find their way on to those courses. And, 99.9% of those hustlers aren't rich. They do ok though, because of rich suckers.
NCjack
(10,279 posts)bahboo
(16,351 posts)keithbvadu2
(36,876 posts)The resorts may have 'lost' money but how much did Donald personally make by grifting off them?