Trump's Scotland golf resort proceeds with expansion despite business pledge
Source: The Guardian
Trump's Scotland golf resort proceeds with expansion despite business pledge
President-elects team does not consider multimillion-dollar plans
in conflict with written vow to end new foreign investments,
which critics call ambiguous
Severin Carrell Scotland editor
Saturday 14 January 2017 16.22 GMT
The Trump Organization will press ahead with multimillion-dollar plans to expand one of the president-elects golf resorts in Scotland, despite its apparent pledge to halt new investments overseas.
Trump officials said the plans for the Trump International Golf Course Scotland in Aberdeenshire likely to immediately involve extending its boutique hotel and building a second 18-hole golf course did not conflict with his promise not to pursue new or pending deals outside the US.
Implementing future phasing of existing properties does not constitute a new transaction so we intend to proceed, a Trump Organization spokeswoman told the Guardian.
The expansion plans could see the resort grow substantially, with a new 450-room five-star hotel, timeshare complex and private housing estate. This would greatly increase the value to the Trump Organization of an investment on which Trump originally boasted he would spend up to £1bn.
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Read more: https://www.theguardian.com/us-news/2017/jan/14/trump-scotland-golf-resort-conflicts-of-interest
sinkingfeeling
(51,457 posts)Denzil_DC
(7,236 posts)this is a big fat fold by Trump.
He said he wasn't going ahead with the "expansion" of his multi-million-dollar-losing club because of the Vattenfall experimental wind turbine development off the coast near his golf club. He took his case to the UK Supreme Court to try to get the windfarm stopped, and failed dismally.
The reality was that at the time he was kicking up that fuss, he didn't have enough money to complete the development:
Donald Trump's plan for £750m Scottish golf resort put on hold
https://www.theguardian.com/uk/2011/jun/20/donald-trump-golf-resort-scotland
But now, all of a sudden, TrumpCo has the money to go ahead? Go figure.