Property a priority to become financially viable

Property a priority to become financially viable

Exchange rate loss hurts Trump's courses in UK

US President Donald Trump is passionate about his golf and owns several courses -- two of which are in Scotland.

Apparently, they have both posted another year of multi-million dollar losses due to a struggling local economy -- together with perhaps a possible political backlash.

Trump's golf clubs on the North Sea and Irish Sea lost a combined £11.9 million ($14.5 million) last year, according to financial statements.

That comes on the heels of a string of annual losses that started before Trump was president. But there are signs of recovery, including an increase in revenue at both Scottish resorts.

The president has 17 golf operations around the world. But unlike his licencing operations where he has sold his name for a fee, he has spent hundreds of millions to buy and improve the clubs, a bold bet that he can turnaround the golf industries losses.

At Trump's Turnberry resort on the Irish Sea, which has hosted several British Opens, losses topped £10.8 million last year, triple the loss from a year earlier.

However, revenue jumped 20%. Apparently, it was an exchange rate loss that hurt the most.

The president's North Sea club overlooking a stretch of dramatic dunes also posted losses, though much lower -- £1.1 million.

Like many courses, in order to become financially viable the priority is to advertise expensive property for those wishing to live on their fairways.

Out of Bounds: Self-defeating attitudes from those on the golf course arise not out of their own accord but out of ignorance. Success is found within ourselves.

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