Trump Irish resort loses money for fourth consecutive year
NEW YORK (AP) — A golf club in Ireland owned by President Donald Trump has lost money for a fourth year in a row.
A year ago, Trump’s company had predicted it would turn a profit. But financial statements filed with the Irish government last month show the club overlooking the Atlantic Ocean posted losses of $2 million (1.8 million euros) in 2017, the latest year available. Operating results, which don’t include some non-cash charges, also showed a loss.
The 2017 results follow reports last month of losses at Trump’s two Scottish golf clubs, too.
The Irish losses were less than the year earlier, and with a big expansion planned at the club, the Trump Organization said that it is “confident” it with turn a profit this year.
The plans for the Trump International Hotel and Golf Links include several new buildings it hopes will draw more business. The plans submitted to a local government include the construction of a ballroom, a “leisure facility” with a restaurant and 53 homes for short-term visitors.
The losses were lower than the year-earlier period when the club in Doonbeg, Ireland, was hurt by a temporary shutdown as it was being refurbished. Revenue rose last year, too.
The resort is considered one of the world’s best, but has attracted controversy.
Trump received approval last year to build a wall to protect his course from rising sea levels. That has angered some local residents and environmentalists who say the structure will damage dunes in the area and a public beach.