- Former President Donald Trump’s hotel and golf club revenues suffered from the coronavirus pandemic.
- Revenue at the Trump International Hotel in Washington was down 63% in 2020 from 2019, according to a financial statement released on Wednesday.
- Most Trump golf clubs had revenues down more than 10%, and revenues at Trump Turnberry in Scotland were down about 62%.
- You can find more stories on the Business Insider homepage.
Former President Donald Trump’s business empire suffered a huge drop in sales as the pandemic devastated the hotel industry Financial report Released hours after him left the White House unveiled on Wednesday.
The report, which covers 2020 and the first 20 days of 2021, showed that revenue from the Trump International Hotel in Washington, DC, decreased 63% from $ 40.5 million in 2019 to $ 15.1 million in the reporting period. In 2018, Trump made $ 40.8 million from the hotel, which is right next to the White House. Financial documents released in May 2019 showed.
With the virus hindering travel and people staying at home, hotel sales in Vegas – where he owns the Trump International Hotel Las Vegas – also fell from $ 23.3 million in 2019 to $ 9.2 million says the 79-page report.
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It wasn’t just his hotels that suffered. Most of Trump’s golf clubs suffered losses of 10% or more: Doral Golf Resort in Miami fell from $ 77.2 million in revenue in 2019 to $ 44.2 million, a decrease of nearly 43%.
Sales of Trump’s golf club in Scotland, Trump Turnberry, fell 62% from $ 25.7 million to $ 9.8 million as Scottish authorities closed the club due to coronavirus restrictions.
In the UK and Ireland, revenue at Trump golf courses declined around 27% year over year.
“There were places where we couldn’t operate because of government mandates,” said Eric Trump, the former president’s son, who helps him run the business New York Times On Wednesday. “These are places where you will lose the season.”
Part of Trump’s business empire that was not hurt by the pandemic was Mar-a-Lago, his private club in Florida and his future home. The club’s revenue rose from $ 21.4 million in 2019 to $ 24.2 million, an increase of 13%, the report said.
According to the report, Trump’s retail business more than doubled its revenue from $ 930,869 in 2019 to $ 1.96 million.
The report showed that Trump’s total income from his business empire fell to $ 273 million to $ 308 million. In 2018 he made at least $ 434 millionand 2017 he earns between $ 597 million and $ 668 million.
Trump also said he received 10 gifts, including the first $ 5,999 Apple Mac Pro from tech giant Tim Cook, a leather bomber jacket from Ford Motor Company CEO Bill Ford, a belt from the Ultimate Fighting Championship and golf equipment.
