Billionaire, Donald Trump’s bargain basement purchase of Doonbeg golf resort, in Co Clare, is already paying off rich dividends with the businessman placing a price tag of $25m (€23m) on the resort.
The valuation is contained in 92 pages of financial disclosures that Mr Trump has filed with the Federal Election Commission in the US, as part of his campaign to become the Republican candidate to stand for US President.
The receivers of Doonbeg golf resort last year received €8.7m arising from Mr Trump’s purchase of the resort.
However, on the crest of additional tourists arriving into Ireland, the Trump Organisation has now placed a potential value on the resort of up to $25m only 17 months after its purchase. The exhaustive documentation of Mr Trump’s financial interests statesthat Doonbeg golf resort is recording revenues in excess of $10m per annum.
However, this is almost half the $20m enjoyed by Trump’s Turberry resort in Scotland that is valued at over $50m.
D documentation shows that Trump has assets worth at least $1.4bn, is paid $250,000 per speech and has an annual income of $380m with more than half of his income — about $200m — coming from golf courses and resorts.
On his first visit to Doonbeg last year, Mr Trump said that the people who love Ireland will thank him for the very special work he is doing at the resort.
He promised an investment of up to €45m in the renamed ‘Trump International Golf Links Resort at Doonbeg’ and hundreds of jobs to flow from the investment.
He said that when the course redesign at Doonbeg is completed “it is something that will be one of the greats of the world”.
Explaining his enthusiasm for Doonbeg, Mr Trump said: “It is only a job or development that is going to be iconic that we have an interest in — I don’t have enough time left to do the boring ones.”
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