Trump: Confidence is strong for 2022

Alistair Dunsmuir
By Alistair Dunsmuir January 14, 2022 12:33

The executive vice president of the Trump Organization, Eric Trump, has said confidence in Trump Turnberry for 2022 is strong, although Covid is still making “it difficult to predict how the company’s business and operations will be affected”.

Speaking after accounts showed large losses for 2020 for the resort amid the pandemic, Trump, son of the 45th president of the United States, said that many bookings for 2020 and 2021 were postponed, rather than cancelled.

The latest accounts reveal that losses at Turnberry, which Trump’s firm purchased for £39.5 million in June 2014, more than doubled from 2019 to 2020.

It had a turnover of £6.7 million but made a loss of £5.3 million for 2020, during which Golf Recreation Scotland, which runs Turnberry, invested £1.5 million in the resort. This compares to a turnover of £19.7 million and a loss of £2.3 million for 2019.

Similarly, Old Course, which operates the five-star hotel and golf resort in St Andrews, recently issued a pre-tax loss of £7.1 million for 2020 compared with a pre-tax profit of £233,000 in 2019, and the host of the 2014 Ryder Cup, Gleneagles, reported that in the 15 months ending just after the lockdown started in March 2020, it suffered a pre-tax loss of £5.2 million.

Trump said: “Demand has been strong in 2021 despite restrictions on inbound travel and, with many weddings and functions rescheduling to 2021 and 2022, there is confidence that the future of the resort is strong.

 Trump Turnberry

“Ownership remains fully committed to the resort and future plans are set to enhance the resort further maintaining Trump Turnberry as Scotland’s premier destination for luxury travel, championship golf and special events.”

Meanwhile, Trump International Golf Links, which Trump opened in the north-east of Scotland in 2012, made a loss for the ninth year in a row.

It made a loss of £1.3 million compared to a loss of £1.1 million for 2019. The resort saw its turnover dip from £3.27 million in 2019 to £1.1 million last year – a drop which was also blamed on the pandemic.

Filed accounts also show that the two companies received almost £3 million in furlough money from the UK government during 2020. Golf Recreation Scotland claimed £2,347,000 while The Trump International Golf Links received £451,770.

Donald Trump resigned as a director from the golf businesses after being elected as president and handed over his controlling stake to a trust run by his family.

“Trump International continues to rank highly in the world golf rankings and plays an important part in the global Trump portfolio,” added Eric Trump.

“The unpredictable nature of Covid-19 makes it difficult to predict how the company’s business and operations will be affected going forward.

“In the short-term management expects an increase in 2021 turnover compared to 2020. Strategies put in place in response to the challenges of the pandemic in the short and medium term are expected to reflect positively on the business.”

 

Alistair Dunsmuir
By Alistair Dunsmuir January 14, 2022 12:33
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1 Comment

  1. djm January 20, 21:58

    Sadly, the location of the Trump courses brings them under the draconian heel of Wee Nippie.

    & in consequence subject to the agenda of teh New Normal, with no rational explanation for personal & travel restrictions.

    Best sell up now, DJT & cut your losses

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