Donald Trump’s golf course in Scotland makes 11th consecutive loss
Donald Trump’s golf course in Aberdeenshire has maintained its positive outlook despite making a loss for an 11th consecutive year.
Trump International Scotland has reported a pre-tax loss of £1.4m for 2023, having also lost £738,344 in the prior 12 months.
The widening loss comes despite its turnover rising from £3.59m to £37.4m over the same period, according to newly-filed accounts with Companies House.
The increased deficit now means that Trump International Scotland has now lost more than £16m.
The company behind Donald Trump’s golf course also runs a country house hotel, shop bar and restaurant.
The two directors of the company are Eric Trump and Donald Trump Junior.
A statement signed off by the board said: “The company once again successfully increased sales across all revenue streams, with the most robust growth from retail and food and beverage.
“The year saw a sizeable increase in tournament and marketing expenditures, which we expect will deliver elevated levels of revenue performance in 2024 and beyond, as well as an abnormal increase in energy costs which impacted all industries nationwide.
“Substantial investment continues to be made by the business to develop its long-term strategic growth.”
In August 2023, Donald Trump’s golf course hosted the PGA Seniors Championship.
Donald Trump and family ‘remain steadfastly committed’
On the event, the course added: “Hosting events of this magnitude has significantly raised the profile and reputation of the business and requires increased expenditures for tournament staging, event facilities and tournament specific marketing.
It also said: “Ownership remain steadfastly committed to their vision for the property and confidently foresee a positive fiscal improvement as the impact of the investment activities flow through in the medium and longer term.”
In separately-filed accounts, the company that operates the Trump family’s Turnberry resort saw its pre-tax profit rise from £186,261 to £3.8m in 2023.
However, over the same period its turnover dipped from £21.82m to £21.1m.
It is the second year in a row that the business has reported a profit after seven years of being in the red.
Donald Trump bought the 800-acre resort for £39.5m in June 2014.
Trump stepped down as a director of the company after being elected US president and gave control to a trust run by his family. He retains a financial interest.
A statement signed off by the board said: “Continual investment from the owners in the resort, and in particular, the championship golf courses, will ensure our continued growth into 2024 onwards in the luxury market.”