Trump's Aberdeenshire golf resort continues to lose millions

TURNBERRY, SCOTLAND - JULY 15: U.S. President Donald Trump plays a round of golf at Trump Turnberry Luxury Collection Resort during the U.S. President's first official visit to the United Kingdom on July 15, 2018 in Turnberry, Scotland. The President of the United States and First Lady, Melania Trump on their first official visit to the UK after yesterday's meetings with the Prime Minister and the Queen is in Scotland for private weekend stay at his Turnberry. (Photo by Leon Neal/Getty Images) Leon Neal/Getty Images

Trump's Aberdeenshire golf resort continues to lose millions

Golf

Trump's Aberdeenshire golf resort continues to lose millions

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President Trump’s golf resort in Aberdeenshire, Scotland, lost money for the seventh consecutive year, posting losses of 1.07 million pounds in 2018 ($1.3 million), the Scotsman newspaper reported Saturday.

According to a filing with the government’s Companies House, Trump International Golf Links has cumulative losses of more than 9.4 million pounds, the Scotsman reported. However, the loss posted in 2018 slightly decreased from the previous year (1.25 million pounds).

Trump has propped up the resort with interest-free loans of 40.6 million pounds, according to the filing.

In 2006, Trump unveiled plans for a $1 billion resort at the Menie Estate. He also promised the resort would create 6,000 jobs.

But in 2018 the resort employed 77 people, down from 84 the previous year, according to the filing.

The Trump Organization recently was approved to build more than 500 new homes at the Menie Estate, ranging from cottages to homes costing more than 1 million pounds, the BBC reported. Plans for a new course, the 18-hole MacLeod Course, were also approved by councilors in Aberdeenshire.

 

 

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