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REMINDER: Trump's prized Doral resort is in steep decline, according to company documents...
Trump’s prized Doral resort is in steep decline, according to company documents, showing his business problems are mounting
By David A. Fahrenthold and Jonathan O'Connell
May 15, 2019 at 6:00 AM EDT
Late last year, in a Miami conference room, a consultant for President Trump’s 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 resort’s 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 Organization’s 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 property’s 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
By David A. Fahrenthold and Jonathan O'Connell
May 15, 2019 at 6:00 AM EDT
Late last year, in a Miami conference room, a consultant for President Trump’s 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 resort’s 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 Organization’s 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 property’s 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
18 replies
= new reply since forum marked as read
= new reply since forum marked as read
neckties during the campaign and New York City building owners stripping his name from their properties has led to a shrinking of Trump’s customer base among a wide swath of businesses, charities, wealthy travelers and golfers to a more narrow pool of clients who are aligned with his politics. ...
By the end of 2018, the Trump hotel chain had lost three locations as building owners cut ties with the Trump company. The company’s plans for dozens of new low-cost hotels — aimed at turning Trump voters into Trump customers — had fizzled.
By the end of 2018, the Trump hotel chain had lost three locations as building owners cut ties with the Trump company. The company’s plans for dozens of new low-cost hotels — aimed at turning Trump voters into Trump customers — had fizzled.
I'm imagining that last. A chain of tacky low-end hotels for trumpsters. Best Western with gold-painted furniture and giant Trump signs telling them where to pull off the freeways.
I hadn't realized that, after Trump called Mexican immigrants drug dealers and rapists, the Doral golf tour's big sponsor, Cadillac, pulled out and couldn't be replaced and the tournament eventually moved to Mexico.
