General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's prized Doral resort is in steep decline, showing his business problems are mounting
Late last year, in a Miami conference room, a consultant for President Trumps company said business at his prized 643-room Doral resort was in sharp decline.
At Doral, which Trump has listed in federal disclosures as his biggest moneymaker hotel, room rates, banquets, golf and overall revenue were all down since 2015. In two years, the resorts net operating income a key figure, representing the amount left over after expenses are paid had fallen by 69 percent.
Even in a vigorous economy, the property was missing the Trump Organizations internal business targets; for instance, the club expected to take in $85 million in revenue in 2017 but took in just $75 million.
They are severely underperforming other resorts in the area, tax consultant Jessica Vachiratevanurak told a Miami-Dade County official in a bid to lower the propertys tax bill. The reason, she said: There is some negative connotation that is associated with the brand.
https://www.washingtonpost.com/politics/trumps-prized-doral-resort-is-in-steep-decline-according-to-company-documents-showing-his-business-problems-are-mounting/2019/05/14/03cc701a-6b54-11e9-be3a-33217240a539_story.html?utm_term=.6994e0396075
Eyeball_Kid
(7,440 posts)properties to cut his losses and collect insurance money.
An alternative: a terrorist attack on one of his hotels.
marylandblue
(12,344 posts)smirkymonkey
(63,221 posts)Good! I hope to see this downward trend continue.
2naSalit
(87,017 posts)We know the drill there.
brush
(53,981 posts)Business probably is down because former customers are finding out what lying a-hole he is, but who knows how much and whether it's a tax devaluation trick.
2naSalit
(87,017 posts)Wellstone ruled
(34,661 posts)very few Golf Courses make a Profit in today's Market. First off,the Game of Golf is in full decline. Second,the Maintenance of these Courses is a money pit. Thirdly,Climate Change is raising holy hell with Turf Growing conditions as new grass diseases and in Urban Areas,the use of certain Chemicals and Pesticides that were the cheap fixes are no longer usable.
Yes Ponzi Don might be playing a Tax Cheat game,which is more than likely knowing of his past. But,in the long run,Private owned Courses are a total money pit.
Blue Owl
(50,609 posts)n/t