Photo: Andy Buchanan/AFP
Donald Trump's Scottish golf course Turnberry has made its first profit after nearly a decade of turbulent ownership under the former president US
Trump Turnberry, an 800-acre resort in Ayrshire with three golf courses and a hotel, made a profit of £571,000 in 2022, according to recently filed accounts.
It marks an improvement on the £3.7 million loss recorded the previous year and marks the first time Trump's company has been in the black since he bought the resort for $60 million in 2014.
Improved performance It came even as separate reports showed mounting losses at the former president's other golf course in Scotland, months after he was found to have inflated its value.
< p>Trump International Golf Club of Scotland, which owns a resort near Aberdeen, reported a loss of more than £738,000 in 2022. This compares to a loss of £697,000 in 2021.
The huge losses came even as sales of golf tickets, memberships, accommodation and hotel services rose.
< img src="/wp-content/uploads/2024/01/1d30b25291c60f9e326adcb087404cc0.jpg" /> Mr Trump at his Links golf resort north of Aberdeen. Photo: Stuart Nicol
Last year, a New York judge ruled that Mr. Trump and his company were liable for “mispricing” Aberdeen's course as part of a broader ruling that found he repeatedly misrepresented his wealth by hundreds of millions of dollars.< /p >
Prosecutors have alleged that Trump International's course was inflated by more than £160 million.
Mr Trump denies any wrongdoing and calls the court case a “witch hunt”.
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Mr Trump stepped down as director of his Scottish golf courses before entering the White House in 2017. His sons, Donald Jr. and Eric, are listed as sole directors, but the ultimate owner is The Donald J. Trump Revocable Trust.
Income from the SLC Turnberry show has risen from £13 million to almost £22 million last year. The company did not pay any income taxes because it carried forward losses from previous years.
The accounts of Golf Recreation Scotland, the immediate parent company of Turnberry Resort, are overdue. The business reported a loss of £14.7m in 2021.
Directors said Turnberry's owners remained “fully committed” to the resort and that future plans would strengthen its reputation as a ” Scotland's premier destination for luxury travel, golf championships and special events.”
The first profit will be a major boost after The Open organizers said the course would not be considered a host site while Mr Trump remained the owner. Turnberry has previously hosted the world's oldest golf tournament four times.
Trump International, which opened in Aberdeen in 2012, was built on 2,000 acres of coastal land overlooking the North Sea. Trump said it would be “the best golf course in the world.”
The foundation is heavily indebted to Trump, having received almost £48 million in interest-free loans from the former president.
Trump International has often been at the center of controversy.
Plans The highway's construction has drawn backlash from environmentalists over concerns that its construction will damage sand dunes in the area. The dunes have since lost their protected nature status.
Trump initially promised to invest £1 billion and create 800 jobs at the Balmedie resort. However, at the end of 2022, the resort employed only 81 people.
Golf course bosses have previously blamed Brexit for their woes, citing supply chain problems and staffing difficulties caused by a lack of access to European workers.
Trump's golf courses, which have collectively received more than £1 million in government Covid support, also blame inflation and rising energy prices for their problems.
Despite the problems with finances in place, Mr Trump has outlined plans to build a second golf course in Aberdeenshire. MacLeod's new course will be named after his mother, Mary Ann MacLeod Trump.
Mr Trump traveled to Scotland to open the site last year, marking his first visit outside the US since he was charged in New York. in a money-making scheme aimed at hushing up allegations of extramarital affairs.
The former president and his son Eric were greeted from a private jet at Aberdeen Airport by two bagpipers, a red carpet and a 10-car caravan. tuple.
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