Trump’s Irish Golf Course Posted 2020 Loss After Covid Hit Revenue

(Bloomberg) -- The Irish golf resort owned by Former President Donald Trump revealed the extent of financial damage caused by Covid-19, with revenues declining 69% in 2020. 

The Trump International Golf Links & Hotel reported a group operating loss of almost 2 million euros ($2.3 million) and revenue of 3.8 million euros in 2020, according to an annual report filed at the end of November. The resort in Doonbeg, County Clare, was shut intermittently throughout that year, suffering from restrictions imposed by the Irish government. 

It reopened in June 2021 and has already returned to pre-Covid levels of trading, the report said.

Trump’s empire of office properties, golf resorts and hotels was hit hard by the pandemic. From when he entered office in 2017 to when he left it earlier this year, his net worth dropped $700 million to $2.5 billion today, according to the Bloomberg Billionaires Index.

Still there are signs of optimism.

Trump has been able to refinance debt and push out maturities. His family-run company agreed to sell the rights to its Washington hotel for $375 million. What’s more, he could make hundreds of millions, or even billions of dollars from his nascent media enterprise, Trump Media & Technology Group, which is planning to go public via a special purpose acquisition company.

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