Trump Turnberry, Trump International Golf Links post losses of nearly $25 million
Trump Golf’s two Scotland properties, Turnberry and Trump International Golf Links, lost close to $25 million in 2016, according to financial reports released over the weekend.
Trump Turnberry on Scotland’s west coast bore the brunt of the losses, $23 million, the report says. “The company attributed the loss to currency fluctuations and the resort being closed for renovation for six months of the year,” Bloomberg’s Stephanie Baker wrote.
Trump International Golf Links in Aberdeen on its east coast, meanwhile, lost $1.8 million. “The company said the drop in revenue was due to the fall in the price of oil, the subsequent downturn in the economy of northeast Scotland and a severe winter storm which damaged part of the site,” Baker wrote.
President Donald Trump resigned as director of the courses prior to his inauguration in January. They are being operated by his son Eric Trump. "In Friday’s report, Eric Trump, the president’s son and a director of the British subsidiary that owns the two resorts, included a letter expressing confidence that the resorts will attract plenty of golfers," the Associated Press reported.
Trump purchased the Turnberry courses in 2014. Trump had the Aberdeen course constructed from scratch on land he purchased in 2006.
The Ailsa Course at Trump Turnberry was 22nd on Golf Digest's ranking of the World's 100 Greatest Courses. Trump International Golf Links was ranked 54th.