Profits surge at Donald Trump-owned Doonbeg resort

Revenues were driven by 65% of visitors from North America. Picture: FotoWare

The Donald Trump-owned golf resort in west Clare saw its operating profits increase by 83% to €933,435 last year.

New accounts filed by TIGL Ireland Enterprises Ltd show that operating profits surged as revenues more than doubled last year rising from €7.17m to €14.36m.

Trump Doonbeg general manager Joe Russell said that 2022 "was the 20th anniversary of the club and was the best year that Trump Doonbeg has had since opening".

The Trump Organisation has ploughed more than €40m, including the purchase price, into the resort since it came under its ownership in 2014. The new accounts show that a further €450,000 was spent last year and this followed €506,155 invested into the business by way of a capital contribution in 2021.

Mr Russell said that 2023 "is forecasted to be a better performance than 2022”. He said that "2022 also saw additional growth in membership, driven largely by continued improvements and world-class conditioning of the Links golf course".

"Revenues are driven by 65% of visitors from North America, a healthy home market, and a very engaged membership, who want to visit regularly to enjoy links golf, fine hospitality, and the west Clare region overall”.

The new accounts show that the business recorded a pre-tax loss of €736,176 after combined non-cash depreciation and amortisation charges of €1.65m and interest payments of €12,643 are taken into account.

The business received zero Government grants in 2022 after receiving €1.84m under that heading in 2021.

The ex-US President’s sons, Donald Trump Jnr and Eric Trump remain on the board of TIGL and state in their directors’ report that they are upgrading various facilities at the Trump International Hotel and Golf Club.

Planning permission was granted in October 2019 for a €40m plan that includes 53 holiday homes, a ballroom/function room, a leisure centre and a new restaurant and Mr Russell replied ‘yes’ when asked if Trump Doonbeg intends to proceed with any of the permitted scheme.

"The Trump Organisation is still committed to Trump Doonbeg and together with several projects, we finalised a complete overall of the driving range, ensuring that the facility is world-class," he said.

The resort at peak season employs 300 and staff costs last year increased from €4.8m to €7.17m that included €6.6m in wages and salaries.

The accounts — signed off by Eric Trump and Mr Russell on December 8th — show that shareholder funds totalled €16.69m.

Since the Trump Organisation purchase, the former US president Donald Trump has visited the resort seven times. The most high-profile visit was in June 2019 which was the businessman’s only visit to Ireland while president of the United States.