Trump Properties Losing Money Right And Left As Uneasy Customers Flee

[PoliTalker]

"Trump blamed legal fees for the decline. But that’s not why the presidency is costing him. It’s true that he has faced a handful of lawsuits and investigations into his financial dealings, which have no doubt run up hefty legal bills. However lawyer’s fees are in the range of a few million dollars—not billions. Instead, it’s Trump mixture of divisive politics and a business built around his own persona that have proved to be a net loser for him so far. In further polarizing the country, he has also further polarized his business.

That’s led to big losses in key areas. Trump National Doral, the president’s largest golf property, has historically drawn much of its clientele from parts of the country where Trump is unpopular. The resort has seen a steep drop in business since Trump went into politics. The Trump Organization’s traditional wheelhouse of luxury rental residential real estate is suffering too, since much of it sits in blue cities like New York and Chicago. And the president’s brand licensing businesses have basically flatlined. A handful of licensees have struck the Trump name from their properties. Meanwhile companies that paid to put the Trump brand on their products, including Macy’s and Serta, fled during Trump’s campaign. No one has stepped in to fill the void, dropping the value of that business close to zero."

Forbes

"In statements signed by Eric Trump, who has taken over day-to-day management of the Trump golf business while his father is president, the filings suggest that the decline in business is related to a downturn in the price of oil, which has created hard economic times in Scotland—an explanation used in previous years, but one that doesn’t necessarily jibe with the company’s portrayal of the resort as a hub for international luxury tourism. In the filings, the Trumps report that the course saw a slight improvement in income from “provision of services”—in other words, fees from people visiting to golf—but saw a 12 percent decline in “sale of goods.” And the course brought in just about half a million pounds less in 2017 than it did in 2016.

Combined with Turnberry, the two Scottish golf courses lost $6.2 million in 2017.

When Trump announced plans to build the course in 2008, he told local government officials that the resort would eventually create as many as 6,000 jobs by building a massive complex of multiple golf courses, a large hotel, and hundreds of individual homes or condo units. Instead, after 2017’s cost-cutting, the course now employs 84 people, down from a high of 95 in 2015. "

Eric Trump, A Chip Off The Old "Great Businessman" Block, Running The Golf Course Businesses Into the Ground

"Who's the loser now?

People are ditching Donald Trump's Palm Beach resort for a competitor he once ridiculed for getting "the leftovers."

After Trump refused to condemn the white supremacists who rallied in Charlottesville this summer, 19 charities such as the Red Cross and Bethesda Hospital Foundation, canceled their events at the resort, with some taking their business to one of his adversaries, The Breakers, the Washington Post reported on Saturday.

Mar-A-Lago was once thought of as the peak of the Palm Beach social scene, but now members reportedly can't convince their friends to step foot in it, forcing them to go elsewhere.

"People will still put on their dancing shoes, and pay big money for their tickets, and go out for the night. [But] instead of going to Mar-a-Lago, they'll be going to the Breakers,"Shannon Donnelly, the society editor for the Palm Beach Daily News, told the Washington Post."

Mar-A-Lago raised it's rates to try to recoup losses from dwindling membership. Can only attract far-right crowd.

"Room rates across President Donald Trump's global hotel empire have nosedived by as much as 63 percent since he moved into the White House while the billionaire continues to deal with allegations of conflicts of interest since taking office.

Twelve of Trump's 13 titular hotels experienced a decline in room rates when comparing prices from January 2017 to January 2018, according to the Telegraph, which cited travel currency service FairFX.

Prior to his inauguration, a two-night stay at Trump Las Vegas cost $844, but now goes for $314, the biggest fall for one of the president's properties.

Trump Turnberry, a United Kingdom property that includes a signature golf course, experienced the next-highest drop of 57 percent, followed by Trump Doral in Florida at 53 percent and Trump's controversial Washington D.C. hotel at 52 percent."

Trump's Hotels Are Losing Money As Room Rates Plummet

[PoliTalker]

Several ex Trump Towers around the world have had the Trump name ripped from them in efforts to turn the botched losing properties around.

Montreal.

Panama City.

[Gonzomin]

East solution. Hold the G7 in a Trump resort every year and then recycle them.