Trump's empire - from Doonbeg to Vegas - hammered by Covid-19
Donald Trump's hotels and golf resorts have seen revenues tumble due to the Covid pandemic. Picture: Leon Neal/Getty Images
Donald Trump’s business empire has been hit hard by coronavirus closures, with revenue from his Washington and Las Vegas hotels down by more than half.
In his last financial disclosure form as US president, Mr Trump detailed the damage the pandemic has wrought, at a time when many tourism businesses are suffering from a lack of travellers.
In Ireland, where Mr Trump owns the Doonbeg golf resort in Co Clare, and the UK, revenues at his golf courses dropped by roughly two-thirds, part of a 27% overall decline in golfing revenue from the prior year.
Revenue from the Trump hotel in Washington, which he had been trying to sell, fell to $15.1m (€12.4m) from $40.5 million a year earlier, according to the disclosure.
In Vegas, hotel-related sales were down to $9.2m from $23.3m. Another important property of Mr Trump’s, the Doral Golf Resort in Miami, also saw revenues drop to $44m from $77m a year earlier.
Mr Trump’s total income fell to between $273m and $308m, according to the form, which covers 2020 and the first 20 days of 2021. In his first financial disclosure in 2017, Mr Trump reported making more than $528.9m over 15 and a half months, including his first three months as president.
Trump is worth $2.5bn, down about $500m from when he took office. His buildings are saddled with more than $1bn in debt, most of it coming due in the next three years and more than a third of it personally guaranteed.
Deutsche Bank, his longtime financier, has said it won’t do business any more with the former president. The PGA of America is also distancing itself, while New York City wants to end contracts with the Trump family business.
