NEWS
05/10/2018 10:21 BST | Updated 05/10/2018 11:08 BST

Donald Trump's Turnberry Golf Resort Posts Massive Losses – Again

It comes just after a bombshell report from The New York Times.

Carlo Allegri / Reuters
Donald Trump at his golf course in 2016.

Donald Trump’s self-proclaimed image of a successful businessman has taken yet another hit after his Turnberry golf resort in Scotland ran up its fourth successive year of multi-million pound losses.

A redevelopment of the Alisa course and hotel took place at the resort in South Ayrshire in 2017, but Companies House filings show Golf Recreation Scotland Limited, the parent company of SLC Turnberry, reported losses of £3.38m in 2017.

This figure is significantly smaller than the £17.6m losses posted in the year ending December 31, 2016, when the resort was closed for six months.

In the report, director and the President’s son Eric Trump said: “The directors believe that in the short to medium terms, the resort will have operating profitability for the first time in 10 years.

“It is expected that revenue will continue to increase in subsequent years as the property is re-established as an industry-leading resort.”

Trump has made a business and now political career out of a carefully cultivated image of being a successful deal-maker despite much evidence to the contrary.

This week a New York Times investigation found his claim to be a self-made billionaire is largely made-up, reporting Trump’s parents “transferred well over $1bn in wealth to their children” during their lifetimes.

The paper published an in-depth examination of the President’s insistence that he is a self-made businessman, questioning the oft-repeated claim that he only ever received a $1m loan from his father and “had to pay him back with interest”.

The President’s associated corporations have also filed for bankruptcy several times.

Trump became a director of Golf Recreation Scotland in April 2014, when he purchased the resort.

He resigned directorships of five companies on the day before his inauguration as President, including Golf Recreation Scotland, registered in Aberdeen, Trump International Golf Club Scotland, registered in Edinburgh, and Nitto World Co, registered in London.

On the same day he resigned as director of DT Connect Europe and SLC Turnberry, both registered at Turnberry in Ayrshire.

He handed control of his business empire to sons Donald Junior and Eric.

Trump and his wife Melania stayed at the Turnberry resort during a private leg of their visit to the UK earlier this year, after the President had meetings with Theresa May and the Queen.

They arrived at the resort on Friday July 13 and spent two nights there, with Trump playing two rounds of golf over the weekend before leaving on Sunday afternoon.