The Trump Group lost $ 4.6million to Scotland’s two golf cities in 2019 – bringing total losses to $ 75MILLION in eight years
- Films at the end of the month will show losses at Turnberry and Aberdeenshire in 2019
- The total losses are around $ 4.6 million, contributing to years of unprofitable operations
- Turnberry turned an operating profit of $ 437,000 before depreciation
- Total losses for both courses are now around $ 75 million over two years
- The figures do not include the financial damage during the pandemic in 2020
The Trump Group has reported a financial loss of about $ 4.6 million at President Donald Trump’s two Scottish golf courses, bringing the loss on paper to about $ 75 million over the eight last year.
Trump’s main tourist center at Turnberry in addition to its first Scottish course, in Aberdeenshire, both released financial information for 2019 at the end of last month.
Turnberry reported a $ 3.4 million loss for the year, and Aberdeenshire’s net loss was $ 1.5 million, the films say.
The losses do not include the damage done in the pandemic coronavirus, which Eric Trump warned in the films has ‘created great uncertainty in the economy and hospitality sector.’
The Turnberry Trump tourist center reported a $ 3.4 million loss for 2019
Aberdeenshire’s net loss was $ 1.5 million. The course can be seen above in 2019
Turnberry reported an operating profit of $ 437,000 before being put off for depreciation, and said 2019 was a year of success.
Turnberry’s turnover grew 6.4 percent to $ 26.8 million and employees rose 13 percent to 541 employees, many on fixed-term or quarterly contracts.
Turnberry also began paying down $ 157 million in debt owed to President Trump himself.
In total, the accounts for the two Scottish golf courses are in debt of more than $ 215 million to Trump. The fact that Trump credits his own resorts creates unconventional accounting, making it difficult to quantify their true profits.
The continuing heavy losses at both resorts mean that the Trump Group has never paid taxes in Scotland, and has drawn scrutiny from officials there over accounting practices.
Trump will play a round of golf at the Trump Turnx Luxury Convention Center during the US President’s first official visit to the United Kingdom on July 15, 2018 in Turnberry, Scotland
Earlier in the week, Scottish journalists reported on the possibility that Trump intended to fly to Turnberry on January 19, his last day in office, in order not to attend ‘President Joe Biden.
However, the First Minister emphasized that it was illegal to travel in or out of the country without a valid reason and said: ‘Coming to play golf is not what I would like to be. thinking as a necessary reason. ‘
The White House has refused to reiterate what the outgoing president will do when Mr. Biden is inaugurated on Jan. 20, encouraging speculation as to whether Mr. Trump will attend service.
But Prestwick Airport was told to expect the U.S. military Boeing 757 aircraft previously used by Mr. Trump to arrive on Jan. 19, according to the Sunday Post.
When asked about profiteering that Mr Trump could travel to Scotland to avoid the establishment, Prime Minister Nicola Sturgeon said: ‘I don’t know what Donald Trump’s travel plans are, you will be happy to find out.
‘I hope and expect – as everyone would expect, not everyone hopes – that the immediate travel plan will require him to leave the White House,’ she said. ‘But other than that I don’t know.