Trump Turnberry Misses Profit Forecast By £3 Million

The Guardian’s Severin Carrell reports on Trump Turnberry’s annual revenue report falling shy of 2017’s predicted income of £18.5 million.

Trump Turnberry’s last accounts show the luxury hotel and golf resort in Ayrshire had an income of £15.2m in 2017 because its takings jumped after he spent more than £100m refurbishing its buildings and courses, and with rooms available at a steep discount.

In January last year, Turnberry’s general manager, Ralph Porciani, told the Guardian he expected 2017 to be the best-performing in the hotel’s history – more than a century – by beating its previous record takings of £16.2m in 2007 by 15% to 20%.

Trump had told the Times that month Turnberry was doing “unbelievably” well because the value of sterling had fallen after Brexit, boosting US and overseas visitors. Turnberry’s earnings for 2017 were much lower than Porciani’s forecast of at least £18.5m though.

The story says the resort is still £107 million in loan debt to President Trump.

Anecdotally, I was struck this summer by how many were still going to Turnberry to test out the courses, but had no plans to stay there for a few days to enjoy the entire facility. Whether this was due to the typical structuring of the traditional American group golf trip or due to cost or for philosophic reasons, was not where you go with a friendly conversation!