Donald Trump’s Aberdeenshire golf resort almost doubled its losses according to newly filed accounts.
The latest Trump International Golf Club Scotland accounts show a pre-tax loss of £1.4 million in 2023, after nearly a £740,000 deficit in 2022.
The loss becomes despite a £156,000 rise in turnover as the Balmedie club raked in £3.75m.
Trump International Golf Club Scotland – which includes the links course, boutique hotel, bar and restaurant on the Menie Estate – has now accumulated more than £16m losses.
It also the 11th straight year in which Trump’s resort has reported a loss, despite a £4.8m loan from Donald Trump’s company, DJT Holdings.
Trump family sees ‘positive’ improvements in future despite rising costs
The newest accounts were signed off by Eric Trump, one of the former US president’s three sons.
In his strategic report, he said the company once again successfully increased sales across all revenue schemes.
The company’s administrative expenses rose to £2m in 2023, £500,000 more than the previous year.
Mr Trump said: “This year saw a sizeable increase in tournament and marketing expenditures.
“Which we expect will deliver elevated levels of revenue performance in 2024 and beyond.
“In August 2023, Trump International Golf Links Scotland hosted the hugely successful PGA seniors championship.
“Hosting events of this magnitude has significantly raised the profile and reputation of the business.
“Substantial investment continues to be made by the business to develop it’s long-term strategic growth.”
Trump’s golf resort’s accounts showed staff costs also rose by almost £300,000 to £2.1m, with staff numbers growing to 84.
Trump’s golf club has ‘world-class reputation’
Trump International Golf Club celebrated being named Scotland’s best course by the World Golf Awards in 2023.
Eric Trump claimed the honour, amongst other rankings, reaffirmed its status as a “world-leading golf destination”.
He said: “This past year has also marked the start of the second major stage of development, with the high-profile ground breaking of a new world class links golf course.
“As demonstrated, ownership remains 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 long term”.
Earlier this month, Trump International Scotland announced its new Aberdeenshire golf course will open next year.
The new championship course is designed to complement the existing Balmedie Trump International Golf Links to create “The Greatest 36 Holes in Golf”.
Named in honour of his mother Mary, the MacLeod Course will sit adjacent to the first course.
Due to open in the summer of 2025, bosses have billed the course “the most environmentally-friendly and sustainable ever built.”
Conversation