Bloomberg — After sinking more than 150 million pounds ($196 million) into his Scottish golf courses, President Donald Trump is yet to make a profit.
His two resorts posted a combined loss of 4.64 million pounds in 2017, according to the latest filings in the U.K. Of that, Trump’s flagship Turnberry 800-acre resort on Scotland’s west coast lost 3.38 million pounds, the fourth consecutive annual deficit since he bought the club in 2014.
The results, some of the few that have been disclosed for Trump’s businesses worldwide, show he’s had to pump millions into the resorts to cover shortfalls while trying to cap costs. Eric Trump, who was upbeat last year about the prospects for Turnberry to make a profit, this year called the Scottish golf business “competitive and challenging, factors that can be heightened by adverse weather conditions.”
The loss at Turnberry at least was smaller than the 17.6 million pounds in 2016, when Trump closed the resort for six months to renovate the hotel and open another course.
Losses from the Trump resort near Aberdeen on the North Sea coast declined slightly, to 1.26 million pounds from 1.41 million pounds in 2016, though revenue also fell. The Trump Organization moved to cut costs by reducing staff. Trump, who has spent years clashing with locals over planning and environmental concerns, hasn’t made a profit from his Aberdeen resort since opening it in 2012.
I guess just because you make a lot of money doesn’t mean you can run a successful business. Who would’ve thunk? The below average golfer and above average businessman, Donald Trump is losing a boatload of money on the Scottish links. And it’s actually not surprising. Trump dropped $196 million on his two Scottish Golf Courses and has yet to make any profit. Zero. Zilch. Absolutely nothing has been made back on these massive resorts. It’s almost kind of like this golf blog except on a much larger level. But to spend that absurd amount of money and not receive any cash flow back takes away Trump’s title of being an “above average business man.”
However, I do agree with Eric Trump’s comments about Scottish golf being, “competitive and challenging.” Scotland is home to a variety of famous courses that include Carnoustie, Gleneagles, Muirfield, Balcomie and Royal Troon. But people with money is Donald’s target audience for his golf course resorts and you’d think those people would be willing to spend a pretty penny at these places but they aren’t.
If you build it, they most certainly aren’t coming. I wonder if that saying goes for that once upon a time wall?