The son of incoming US president Donald Trump has said that next year will be a banner one for the Doonbeg resort in Co Clare after it had its strongest year to date in 2016.
Eric Trump said that in spite of 2015 being a loss-making year, it was “an amazing year for Trump Doonbeg” and 2016 was even better.
New accounts filed by Trump International Golf Club (TIGL) Ireland Enterprises Ltd with the Companies Office show that the firm recorded pre-tax losses of €2.5m last year.
The Trump Organisation purchased the property for a reported bargain €15m in February 2014 and Eric Trump said yesterday that the Trump firm has invested close to €25m into upgrading the resort in 2014 and 2015.
He said that in 2015 and 2016, the resort was partially under construction and therefore not operating at full capacity.
“We are incredibly excited for 2017 and are confident it will be our banner year with a tremendous amount of business already in the books,” he said.
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”.
Eric Trump said: “2015 was an amazing year for Trump Doonbeg. We spent millions of euro transforming this property into one of the finest hotels anywhere in the world.”
“Between the golf course and the property alone, every aspect is absolutely stunning and we couldn’t be more proud of the end result,” he said.
On this year’s performance, he said: “Despite the fact that the property was undergoing a renovation during part of the year, 2016 was the strongest year in the history of the property.”
Last year, the gross profits at TIGL Ireland Enterprises Ltd fell by 11% to €3.68m as the upgrading continued.
The €2.5m pre-tax loss for last year included a non-cash depreciation charge of €1m.
In 2014, it had a loss of €2.5m.
On the newly opened redesigned golf course, Trump said: “Year to date we have seen an extra 3,488 golf rounds, UK and European rounds are up 25% over 2015 and we are budgeting a further increase in 2017 when golfers will reap the benefits of our redesigned course.”
General manager Joe Russell said: “The Trump Family is incredibly committed to the success and continued growth of this property.
“Eric Trump, who led the acquisition and is responsible for overseeing the development has been, and continues to be, intimately involved in every aspect of the resort’s redevelopment and operation.”
On the impact that the election of Trump has had on the business, Mr Russell said: “The Trump brand is hotter than ever and business and Trump Doonbeg continues to perform exceptionally well.
“Our sales teams have been receiving an amazing reaction in the market from both domestic and international travel agents and incentive companies.”
“On a local level we are experiencing great support, a fact borne out by the success of our recent Christmas market.
“We are enthusiast about our future and grateful to be a part of such a powerful, globally recognised brand,” he said.
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