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.
©2021 Bloomberg L.P.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
