Donald Trump’s Scottish resort golf business is showing negative growth.
By the end of 2020, Trump International Golf Club Scotland Ltd reported a loss of 1.5 million USD in 2019. This company belongs to the Trump Group, operates a golf real estate complex in Aberdeenshire region, with the highest leadership position belongs to Eric Trump – son of the US President is about to leave office. However, sales in the same period increased 18%, from 3.79 million USD to nearly 4.5 million USD. The year before, Trump International Golf Club Scotland Ltd also reported a net loss of $ 1.64 million.
Besides, in 2021 they were not optimistic about the epidemic still raging, and the consequences of Britain’s separation from the European Union (Brexit).
“Covid-19 has a serious impact on the golf-entertainment industry. Its impact on the company’s business is still complicated and timeless is unknown. In addition, the golf-tourism industry this year also.” There will be many challenges after Brexit. However, we believe that we will achieve long-term profits with solutions to cope with risks from the current business environment, ”said Trump International Golf Club Scotland Ltd’s Board of Directors. in the recent business report.
Trump bought 728 hectares of land in Aberdeenshire and built a resort with a golf course in 2005. The golf course has a loan of 55.6 million USD without interest and not yet profitable.
In the second phase, the investor plans to build an 18-hole MacLeod yard and more than 500 luxury resort villas. The new golf course is named after Trump’s mother – Mrs. Mary, of Scottish descent.
But the new project met with strong opposition from the local community because of concerns about negative impacts on the environment. The opposition has fought with the law and lawsuits. Therefore, the information will be released from 2013, but until 2019, the new Aberdeenshire government has approved the planning of the MacLeod yard. It was approved by the higher level in October 2020.
“The government is on the same side with Trump International. They change the environment for the economy,” said Bob Ward of the Institute for Research on Climate Change and Environment in London. AP.
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