Trump's flagship Scottish resort lost millions last year

Posted: Updated:
  • NationalMore>>

  • Sears files for Chapter 11 amid plunging sales, massive debt

    Sears files for Chapter 11 amid plunging sales, massive debt

    Monday, October 15 2018 1:34 AM EDT2018-10-15 05:34:53 GMT
    Monday, October 15 2018 4:25 AM EDT2018-10-15 08:25:07 GMT
    Sears has filed for Chapter 11 bankruptcy protection.More >>
    Sears has filed for Chapter 11 bankruptcy protection.More >>
  • San Francisco to vote on taxing rich businesses for homeless

    San Francisco to vote on taxing rich businesses for homeless

    Monday, October 15 2018 12:26 AM EDT2018-10-15 04:26:35 GMT
    Monday, October 15 2018 4:17 AM EDT2018-10-15 08:17:08 GMT
    (AP Photo/Jeff Chiu). In this Oct. 1, 2018 photo, Stormy Nichole Day, left, sits on a sidewalk on Haight Street with Nord (last name not given) and his dog Hobo while interviewed about being homeless in San Francisco. A measure on San Francisco's Nov. ...(AP Photo/Jeff Chiu). In this Oct. 1, 2018 photo, Stormy Nichole Day, left, sits on a sidewalk on Haight Street with Nord (last name not given) and his dog Hobo while interviewed about being homeless in San Francisco. A measure on San Francisco's Nov. ...
    San Francisco voters have a measure on the Nov. 6 ballot that would tax hundreds of the city's wealthiest companies to help thousands of homeless and mentally ill.More >>
    San Francisco voters have a measure on the Nov. 6 ballot that would tax hundreds of the city's wealthiest companies to help thousands of homeless and mentally ill.More >>
  • Trump to visit Florida, Georgia; search ongoing for missing

    Trump to visit Florida, Georgia; search ongoing for missing

    Sunday, October 14 2018 11:44 PM EDT2018-10-15 03:44:58 GMT
    Monday, October 15 2018 4:17 AM EDT2018-10-15 08:17:04 GMT
    (AP Photo/David Goldman). Candace Phillips sifts through what was her third-floor bedroom while returning to her damaged home in Mexico Beach, Fla., Sunday, Oct. 14, 2018, in the aftermath of Hurricane Michael. "We spent 25 years of our marriage workin...(AP Photo/David Goldman). Candace Phillips sifts through what was her third-floor bedroom while returning to her damaged home in Mexico Beach, Fla., Sunday, Oct. 14, 2018, in the aftermath of Hurricane Michael. "We spent 25 years of our marriage workin...
    Upon touring the damage in several towns along Florida's Panhandle, Federal Emergency Management Agency chief Brock Long called the destruction left by Hurricane Michael some of the worst he's ever seen.More >>
    Upon touring the damage in several towns along Florida's Panhandle, Federal Emergency Management Agency chief Brock Long called the destruction left by Hurricane Michael some of the worst he's ever seen.More >>

By BERNARD CONDON
AP Business Writer

NEW YORK (AP) - President Donald Trump's flagship golf resort in Scotland has lost millions of dollars for a fourth year in a row.

His Turnberry resort on the Irish Sea lost 3.4 million pounds ($4.4 million dollars at current exchange rates) in 2017, despite opening a new course and refurbished hotel, according to a report from Britain's Companies House. The losses add to the woes of a Scottish golf business that has faced a backlash from anti-Trump protesters and has tussled for years with regulators and environmentalists.

The losses, however, are significantly smaller than last year's. The resort was closed for six months in 2016 while a hotel and grounds were being refurbished.

Results for Trump's second Scottish golf resort near Aberdeen on the North Sea haven't been released yet.

Trump's company has struggled since it ventured into Scotland a dozen years ago. He fought with landowners who refused to sell to him and with regulators objecting to his buildings plans. He also recently lost a court fight to stop an offshore windmill farm near one of his courses.

The losses at Turnberry come after setbacks at other Trump golf clubs, including declining figures at his courses in New York City and Los Angeles. Since his business is private, it's not clear how many of his other resorts are doing, and his golf business overall.

The Turnberry losses appear to have come as a surprise to some in the company. The general manager of the resort told the Guardian newspaper last year that he expected a profit in 2017 on much higher revenue.

The president's son, Eric Trump, also had high hopes at the time. In a letter accompanying the resort's 2016 financial report, he said his course had received "excellent reviews" from its guests and that reopening the resort will usher in an "exciting new era" for the company.

Eric Trump is a director of the British subsidiary of the Trump Organization that owns the two Scottish resorts.

His letter in the latest financial report was more muted, though, although he did express optimism. He wrote that the resort is expected to turn an operating profit in the "short to medium terms."

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.