Donald Trump is resuming a family business devastated by closures and restrictions due to the coronavirus pandemic, and whose revenues plummeted by more than 40% at his Doral golf course, his Washington hotel and his two resorts in Scotland.
The information about Trump’s finances disclosed as he left the White House was just the latest bad news for his financial empire after banks, brokers and golf organizations cut ties with his company after Trump encouraged a crowd of his followers to storm the Capitol in Washington.
The disclosure revealed that the company is dealing with significant debt in excess of $ 300 million, much of which it will have to pay over the next four years, and a small positive: revenues at the Mar-a-Lago resort in Palm Beach, Florida. , they increased by several million dollars.
Eric Trump, who along with Donald Trump Jr. the Trump organization for the past four years, insisted in an interview to The Associated Press on Thursday that the financial disclosure does not provide the full picture. He found the debt ‘negligible’ and the company’s prospects, especially the resorts and golf courses.
“The golf industry has never been stronger. We’ve gotten hundreds and hundreds of new members, ”he said, adding that the revenues are“ tens of millions ”.
Referring to the opportunity to create new companies in the post-presidential era, Eric Trump mentioned possible deals where Trump’s name would be used on a product or building for a fee, a company that previously generated tens of millions of dollars.
“The possibilities are endless,” said Erioc Trump, although he declined to give details.
The year-over-year report presented to federal ethics officials only shows earnings numbers, not earnings, but the blow to Trump’s businesses appears to be widespread.
The Doral National Golf Club, on the outskirts of Miami and the largest source of income of any of the family’s golf courses, had $ 44.2 million in revenue, down $ 33 million from 2019.
The Trump International Hotel in Washington, frequented by lobbyists and diplomats before shrinking operations last year, generated just $ 15.1 million in revenue, down more than 60% from the year-earlier figures.
The Turnberry club in Scotland had sales of less than $ 10 million, down more than 60%. The income of the family’s golf club in Aberdeen also fell about the same proportion.
Trump’s Mar-a-Lago club in Palm Beach, Florida, where Trump arrived on Wednesday. reported a 10% increase in sales of $ 24.2 million.