Losses deepen at Trump's Scotland properties, new financial reports show
Source: Washington Post
Politics
Losses deepen at Trump’s Scotland properties, new financial reports show
By Joshua Partlow
Oct. 8, 2019 at 1:21 p.m. EDT
The Trump Organization’s two Scottish golf courses lost $14.3 million in 2018, extending a multiyear string of losses that have intensified since Donald Trump took office, according to annual financial reports released this month.
The results add further pressure to two of President Trump’s key overseas investments at a time when the company faces backlashes on many fronts, including customers who shun the president’s family business for political reasons and golf course neighbors upset by the company’s plans to build hundreds of new homes on bucolic farmland.
The losses at the two Scotland courses — the Turnberry resort along the southwestern coast and another seaside course near Aberdeen in the northeast — were detailed in documents filed by the Trump Organization with the British government and posted online in recent days.
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In its filing, the Trump Organization touted Turnberry’s “tremendous success” in the company’s fifth full year operating the resort. The company said revenue in 2018, $22.5 million, was higher than any year in the course’s history. But the company also lost $13 million for the year, more than tripling its 2017 loss of $4.1 million. Turnberry has not turned a profit since Trump has owned it.
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Joshua Partlow is a reporter on the The Washington Post’s national desk. He has served previously as the bureau chief in Mexico City, Kabul, Rio de Janeiro, and as a correspondent in Baghdad. Follow https://twitter.com/partlowj
Read more: https://www.washingtonpost.com/politics/losses-deepen-at-trumps-scotland-properties-new-financial-reports-show/2019/10/08/08ddf890-e9d4-11e9-bafb-da248f8d5734_story.html
Losses deepen at Trump’s Scotland properties, new financial reports show
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