Trump Turnberry reports losses of £2.31m despite increasing revenue
The Trump Turnberry resort in Ayrshire has reported pre-tax losses of £2.31m despite a 6.4% increase in turnover to £19.67m.
According to financial results filed for parent company Golf Recreation Scotland for the year ended 31 December 2019, the 192-bedroom, five-red-AA-starred property saw continued growth and strong year-over-year increases in both revenue and operating profit.
The venue is continuing its multimillion-pound renovation, including newly ungraded villas and enhanced spa and wellness offerings, which were completed in 2020. The financial report covers the third full year of operations since the £200m refurbishment and reopening of the main hotel and golf courses in 2016.
In the report, director Eric Trump said ownership "remains fully committed to the resort" and "planning for further redevelopment is ongoing". The Trump organisation "has confirmed that it will ensure all necessary financial support is provided to the group for the foreseeable future to enable it to meet its financial obligations".
With regards to the 2020 financial year, he added: "The extent of the impact of Covid-19 on the company's business and financial results will depend on the duration and spread of the outbreak and the related impact on consumer confidence and spending, all of which are highly uncertain in the current environment."
US president Donald Trump bought the property in 2014. Trump Turnberry is operated under Marriott's Luxury Collection.
