Trump-Owned Doonbeg Resort Reports €2.5M Loss Last Year

The Donald Trump-owned Doonbeg resort in County Clare, Ireland "recorded pre-tax losses of more than" €2M last year, according to Gordon Deegan of the IRISH TIMES. New accounts filed by Trump Int'l Golf Club (TIGL) Ireland Enterprises Ltd. with the Companies Office show the firm recorded pre-tax losses of €2.5M last year. However, Trump's son Eric Trump said that "the resort has enjoyed its strongest year to date this year." The Trump organization purchased the property for a reported "bargain" €15M in Feb. '14 and Eric Trump said on Thursday that the Trump firm invested close to €25M into upgrading the resort during '14 and '15. He pointed out that during both '15 and '16, "the resort was partially under construction and therefore not operating at full capacity." The directors' report attached to the accounts states that as a result of the redevelopment "annualised turnover will increase and that the company expects to report operating profits in the second half of 2016 and onward" (IRISH TIMES, 12/14).