The Donald Trump-owned Doonbeg golf resort saw revenues fall by €8.23 million (68.6 per cent) last year from €12 million to €3.76 million.
New accounts for the company behind Trump’s business in Doonbeg in Co Clare shows pretax losses more than doubled in 2020 to €3.59 million, as Covid restrictions impacted on the business.
The pretax loss last year follows a loss of €1.37 million in 2019. It takes account of hefty non-cash depreciation and amortisation charges of €1.6 million.
The business lost more than half its workforce in 2020 as numbers employed declined from 230 to 112, with staff costs falling to €3.5 million from €6.5 million. The company received €496,565 in Government wage support schemes.
Impact of restrictions
The former US president’s sons, Eric and Donald jnr, are among the company’s directors. They said that while the resort’s closure due to pandemic restrictions had “a direct impact on the group’s results for 2020”, the business had “returned to pre-Covid-19 levels of trading” since it reopened in June.
The directors said they were confident the business could achieve its budgeted results for the remainder of this period and return to normal trading conditions in the near future.
They said the company was in the process of upgrading facilities at the resort and expect “this will enhance the customer experience and have a positive impact on the company and group’s trading results”.
The Trump Organisation has ploughed more than €40 million, including the purchase price, into the resort since it came under its ownership in February 2014. The latest accounts show a further €1.5 million was invested last year. This followed a capital contribution of €1.8 million in 2019.
