Donald Trump’s Scotland Golf Resorts Lost More Than $8 Million in 2020

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Donald Trump’s Scotland Golf Resorts Lost More Than $8 Million in 2020

Records show that Donald Trump’s golf resorts in Scotland lost more than $8m (£6.6m) in 2020.

Both the country’s former president’s resorts – Trump Turnberry in Ayrshire and Trump International Golf Links in Aberdeenshire – took a hit last year despite receiving millions in government grants, according to financial reports their operators submitted to the UK government this week.

Trump Turnberry has seen sales fall from $26.37m (£19.7m) in 2019 to $8.97m (£6.7m) in 2020, according to a report provided by Golf Recreation Scotland Ltd, which owns the resort. Records show the company experienced an operating loss of $7.1m (£5.3m) in 2020. It lost $2.72m (£2.3m) in 2019.

Trump International Golf Club Scotland Limited, which owns Trump Resort in Aberdeenshire, has seen sales fall from $4.38m (£3.3m) in 2019 to $1.47m (£1.1m) in 2020, according to its report.

Donald Trump plays golf
Donald Trump points as he walks during a round of golf at Trump Turnberry Course in Ayrshire, Scotland, on July 14, 2018.
Andy Buchanan/AFP via Getty Images

The resort posted a loss of $1.74m (£1.3m) in 2020, posting nine consecutive years without profit. The company lost $1.47m (£1.1m) in 2019.

Reports signed by Trump’s son Eric Trump, as director of the two companies, blamed the losses on resorts that have closed for extended periods during the COVID-19 pandemic.

Trump Turnberry is closed from March 23 to July 15 in 2020 and again from November 20 through April 26, according to records.

Turnberry has received $3.08m (£2.3m) from the UK government under a furlough scheme to keep jobs due to the coronavirus, according to records. The BBC reported that a subsidiary, SLC Turnberry Ltd. It filed further claims for government grants between £435,000 and £1.1 million from January to August this year, citing government data not included in the published records.

However, the company’s calculations show that the average number of employees at the resort decreased from 541 in 2019 to 289 in 2020.

“Government support has been beneficial to retaining as many jobs as possible, but uncertainty about the duration of support and the ongoing impact of the pandemic meant that layoffs were required to prepare businesses for the long-term impacts on the hospitality industry,” Eric Trump said in his report. Transfer.

Donald Trump International Golf Course
Donald Trump International Golf Club is pictured behind the 18th hole north of Aberdeen on the east coast of Scotland on June 25, 2016.
Michel Wachowsek/AFP via Getty Images

He continued that “demand was strong” at Turnberry in 2021 despite restrictions on domestic travel” and that “several weddings and events” were scheduled for 2021 and 2022.

“There is confidence that the future of the resort is strong,” he added.

The report for the Aberdeenshire resort said COVID-19 restrictions had a “direct impact” on the company’s poor performance in 2020.

However, Eric Trump said in the report that the company “continues to occupy a high position in global golf rankings and plays an important role in Trump’s global portfolio.”

The closure of all resort facilities was mandated on March 21 last year, according to the report, but while golf was allowed from May 6 onwards, the Macleod House Hotel remained closed throughout 2020.

“The British government’s furlough scheme helps retain as many jobs as possible, and the majority of employees have been reinstated over the course of the year,” the report said. Trump International Golf Club Scotland Ltd. received about $605,000 (£452,000) off the scheme in 2020, according to the company’s financial statements.

It has also demanded between $114,000 (£85,000) and $275,000 (£205,000) from planned between January and August 2021, according to the BBC.

The average number of resort employees decreased from 84 in 2019 to 63 in 2020, according to records.

The report also noted that: “While there is confidence that with the easing of restrictions there is pent-up demand from both leisure and business markets, it is clear that there is still a threat of further restrictions if COVID-19 case levels rise or variables emerge. New.

“Brexit has also affected business, with supply chains disrupted, and the labor market shrinking. Transport and freight charges and import duties are also increasing, along with a higher total cost of goods.”

Representatives for Eric Trump have been contacted for comment.