LONDON Oct 13 Donald Trump's two Scottish golf
courses continued to suffer losses last year, accounts filed in
Britain show, highlighting the challenge the U.S. presidential
candidate has in making a return on his substantial investments
Trump International Golf Club Scotland Limited, which owns
and manages a course the tycoon built on previously protected
dunes north of Aberdeen, reduced its annual loss by 40,000
pounds to 1.1 million pounds ($1.37 million), according to
accounts filed in recent days.
Turnover at the course, which opened in 2012, rose 7 percent
to 3.0 million pounds.
The Turnberry golf resort, which Trump bought in 2014 for 34
million pounds, reported a loss of 8.4 million pounds, compared
to over 3.6 million in 2014. Turnover fell to 11 million pounds
from 13 million in 2014.
Heavy investments in the property and the closure of its
hotel for renovations drove the drop in revenue and increased
Trump's organization has said the New York property magnate
has invested around $300 million in buying, building and
developing the properties.
The accounts show his main Scottish operating companies
spent less than half that figure up to the end of 2015 but Trump
officials say spending since then and head office costs related
to the Scottish developments pushed the total higher.
But some industry investors and consultants are skeptical he
can make a return on his investment.
A decline in golf's popularity and an oversupply of courses
has pushed some Scottish courses to close, while Turnberry's two
previous owners failed to make a profit there.
A Reuters examination of Trump's golf empire earlier this
year, based on his own comments and official filings, calculated
that he had spent over $1.1 billion building a portfolio that
was now worth about half that sum.
Trump rejected the analysis, saying of his courses: "Every
one of them makes a lot of money".
($1 = 0.8042 pounds)
(Reporting by Tom Bergin; Editing by Mark Trevelyan)