Trump Turnberry records first profit in almost a decade

Luxury golf venue Trump Turnberry has logged its first profit since opening nearly ten years ago.

The Ayrshire resort, which boasts three golf courses and a hotel, has experienced a turbulent ownership since being acquired by former US President Donald Trump.

After losses of £3.7 million were recorded in 2021, newly filed accounts at the UK’s Companies House show that Turnberry made a profit of £571,000 in 2022.

As attendance recovered following the Covid-19 pandemic, revenue rose to almost £22m from £13.1m in 2021.

Trump bought the 800-acre resort for £60 million in 2014, and while it has struggled financially, the marked improvement comes as separate accounts showed mounting losses at his other Scottish golf course.

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He was found to have inflated the value of Trump International Golf Club, near Aberdeen, which posted a loss of over £738,000 in 2022 and £697,000 in 2021.

Those losses come despite an increase in sales across green fees, membership, accommodation and hotel services, while the resorts also received more than £1 million in taxpayer support during coronavirus lockdowns.

Trump Turnberry did not pay any tax on its 2022 profit because of deductible losses carried forward from previous years and other allowances.

And Trump, who owns 18 golf courses across the world, declared no taxable income in the US for 2015, 2016, 2017 and 2020 because of losses on his business operations, according to official records.

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Meanwhile, the Trump family vowed to renovate Turnberry with $200 million in 2018, which was referred to as “significant capital investment to significantly… improve the resort,” according to a newly filed 2022 annual report obtained by The Financial Times.

The last major championship to be held at the resort was the RICOH Women’s British Open in 2015, won by Inbee Park.

Fred Couples lifted the Senior Open Championship three years prior.

The Open Championship has been staged at Turnberry four times, with Stewart Cink the most recent victor.

The American will be the last, at least until the venue isn’t owned by Donald Trump, as the R&A has stated that Turnberry will not host the championship under his ownership.