Donald Trump’s Scottish golf courses and leisure businesses have claimed £3million in cash in the UK after losses of more than £6million
- Both Aberdeen and Turnberry clubs failed to make a profit last year
- The Aberdeenshire club suffered a loss of £1.3million while Turnberry lost £5.3million
- Both clubs blamed the financial results on the pandemic which caused closures
Donald Trump’s Scottish golf courses, which claimed £3million in cash from the UK government, suffered combined losses of more than £6million last year, new figures have revealed.
Accounts filed at Companies House for the former US president’s resorts at Menie Estate in Aberdeenshire and Turnberry in Ayrshire show they failed to turn a profit.
Accounts reveal losses at Turnberry, which Trump’s company bought for £39.5m in June 2014, have more than doubled in the past year.
It had a turnover of £6.7m but recorded a loss of £5.3m for 2020. This compares to a turnover of £19.7m and at a loss of £2.3m for 2019.
Accounts filed at Companies House for Donald Trump’s golf clubs show they have both failed to make a profit this year. Pictured: Former US President Donald Trump, 74, visiting his Turnberry resort in Ayrshire in June 2015 after its £7.19million refurbishment
Golf Recreation Scotland, which runs Turnberry, invested £1.5m in the resort in 2020.
The company said the results were due to the station being closed for several months due to the coronavirus pandemic.
The Trump International Golf Links, which Trump opened in north-east Scotland in 2012 following a battle with environmental activists, has recorded a loss for the ninth consecutive year.
It made a loss of £1.3m compared to a loss of £1.1m for 2019. The station saw its turnover drop from £3.27m in 2019 to 1, £1m last year – a drop that has been blamed on the pandemic.
Trump, whose representatives initially said they would spend up to £1billion on the development, hailed the course as the biggest in the world and pledged to create 800 jobs at the resort.
The business employed 63 people in its ninth year of operation, who were paid a total of £1.6million.
Trump’s Turnberry complex (pictured last year) had a turnover of £6.7m but posted a loss of £5.3m for 2020. That compares with a figure revenue of £19.7m and a loss of £2.3m for 2019.
Accounts also show the two companies received nearly £3million in furlough money from the UK government in 2020. Golf Recreation Scotland claimed £2,347,000 while The Trump International Golf Links received £451,770.
Trump, 75, resigned as a director of golf businesses after being elected president and ceded his majority stake to a trust run by his family.
The Trump Organization said the coronavirus pandemic poses “unprecedented” risks for the company, but said it remained optimistic about the future of its investments in Scotland.
In his director’s report for the Menie Estate, the son of former White House chief Eric Trump said: ‘Trump International continues to top the global golf rankings and plays an important role in the portfolio. Trump’s world.
“The unpredictable nature of Covid-19 makes it difficult to predict how business and company operations will be affected in the future.
“In the short term, management expects an increase in 2021 revenue compared to 2020. The strategies put in place in response to the challenges of the pandemic in the short and medium term should have a positive impact on the business. .”
Trump’s resort in Aberdeenshire suffered a loss of £1.3million compared to a loss of £1.1million for 2019
In his report for Turnberry, Eric Trump said: ‘Demand has been strong in 2021 despite restrictions on inbound travel and with many weddings and functions postponed to 2021 and 2022 it is certain that the future of the resort is bright. solid.
“The property remains fully committed to the resort and future plans are in place to enhance the resort maintaining Trump Turnberry as Scotland’s premier destination for luxury travel, championship golf and special events.”
The Trump Organization employed 289 people at Turnberry during the year, who received a total of £7.5million in salaries.
Last month, a Court of Session judge rejected a legal bid to force lawmakers to investigate Trump’s purchase of his two golf resorts in Scotland.
New York-based human rights organization Avaaz had argued that the Scottish government should have embarked on an unexplained inquiry into the wealth order to determine how the deals were funded.
However, Lord Sandison ruled that the Scottish ministers had acted lawfully in refusing to investigate.