Trump-Owned Irish Resort Records Loss
The hotel and golf resort in Co. Clare owned by US Presidential hopeful Donald Trump recorded a pre-tax loss of €2.5 million.
Trump International Golf Links and Hotel in Doonbeg filed a loss €2,549,801 in its first year since the billionaire tycoon acquired it.
Operator TIGL Ireland Enterprises Limited recorded the losses, stating the substantial losses were due to the initial costs after the acquisition of the hotel, the Irish Times reports.
Trump bought the resort for €8.7 million in February last year and has pledged to invest €45 million into its redevelopment.
Developing the site hasn't been without trouble for Trump, who has fought with local councillors, developers who planned to build a wind farm near the resort, as well as a protected species of snail preventing him from shoring up the coastline.
The golf course is currently undergoing a re-design and will be opened next year, when it will become one of the finest golf courses in the world, according to Mr. Trump.