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Bloomberg
From the 300-plus crystal chandeliers to the gold-plated taps in the bathrooms, Donald Trump has transformed a hotel overlooking one of the world’s most legendary golf courses into an eponymous glittering palace. Members gathering for their tee times say they love many of the changes at the Trump Turnberry resort in Scotland, but they doubt the president will ever make his money back.
“It’s a personal investment in aggrandizement,†says Mervyn Caplan, a member for the past 17 years, sipping tea in the clubhouse. “He’ll never get a return on the capital he’s invested.â€
So far, that looks like a sound prediction. Financial reports made public in the UK over the weekend show Trump last year faced mounting losses at Turnberry and his other Scottish golf resort, forcing him to inject more cash to cover shortfalls. Losses at Trump Turnberry, his biggest investment outside of the US, more than doubled to $23 million in 2016, while revenue fell 21 percent to 9 million pounds.
Beyond last year’s losses, however, the latest disclosures show Trump has now poured a combined 152 million pounds, or nearly $200 million, into the ventures without either one turning a profit under his ownership. The results, among the few made public anywhere in the world for Trump’s private businesses, may add to questions about whether his brand of divisive politics is starting to take some of the luster off of his businesses.
Turnberry offers a test. Perched on the windswept west coast of Scotland, the British Open Championship course was among the world’s most famous and top-rated courses for decades before Trump purchased it in 2014 and put his name above the door. He has called the 800-acre resort his “baby,†setting it apart from the 14 other courses he owns in the US, UK, and Ireland. It remains one of the top-rated golf courses in the world.