The Scottish golf programs owned by Donald Trump and his household have made losses of greater than £4mn previously monetary yr.
The Turnberry golf course and resort in Ayrshire, described by Trump as “unimaginable” when he visited in 2018, has by no means made a revenue in nearly a decade of possession by the household.
This week, delayed accounts filed by SLC Turnberry Ltd, which manages Turnberry, recorded a pre-tax lack of about £3.7mn within the yr to the top of 2021.
Turnberry, which has two 18-hole programs and a 9-holer and has been used for The Open Championship, was acquired by Trump, a eager golfer, in 2014.
A second golf course owned by Trump Worldwide Golf Membership Scotland Ltd close to Aberdeen made a pre-tax lack of £697,000 in accounts additionally filed this week. The course was created by Trump on 1,400 acres that he acquired north of town in 2006 with a plan for what he mentioned could be “the world’s greatest golf course”.
Turnberry’s outcomes mentioned the resort was closed for the primary three months of its monetary yr due to pandemic lockdowns, however has since traded at pre-Covid ranges boosted by “staycation” vacationers unable to journey overseas.
The annual report additionally mentioned that Brexit has “impacted” enterprise “as provide chains have been affected by availability of drivers and employees, lowering deliveries and the supply of sure product strains”.
It additionally warned over staffing ranges given a “lack of entry to European employees for companies on the whole leading to higher demand for the people beforehand obtainable on the resort”.
In 2016, Trump welcomed the Brexit vote, saying “when the pound goes down, extra individuals are coming to Turnberry, frankly”.
The 2 Scottish resorts additionally acquired greater than £1mn in monetary help from the federal government in the course of the lockdowns.
SLC Turnberry Ltd is owned by a holding firm referred to as Golf Recreation Scotland, which lists Eric Trump as its solely director. The Donald J Trump Revocable Belief is listed as proudly owning Golf Recreation Scotland.
Golf Recreation Scotland made a lack of £14.7mn in 2021, largely owing to international foreign money change losses on high of the £3.7mn loss recorded on the resort.
Trump was pressured to publish his tax returns final yr after a authorized battle with the US Senate, which confirmed that components of his enterprise empire had been lossmaking.