Donald Trump’s two Scottish golf courses have posted another year of financial losses despite a sharp rise in sales, as the former US president’s business empire continues to invest heavily in luxury tourism and golf.
Accounts filed for 2024 show Trump Turnberry in Ayrshire increased its turnover by 15 per cent to £24.2m, driven by higher visitor numbers, luxury tour groups and stronger performance from its high-end golf offering, where green fees can exceed £1,000 per round.
The historic resort’s operating profit more than doubled to £2.3m, but depreciation of £2.9m resulted in the company recording a pre-tax loss of £631,779 – an improvement on the loss of £1.7m the previous year, when depreciation costs were slightly lower at £2.8m.
At Trump International Golf Links in Aberdeenshire, turnover rose 22 per cent to £4.5m, narrowing losses to £937,693, compared to £1.4m in 2023. The improvement was attributed to increased attendance and international attention following tournaments such as the PGA Seniors Championship, which was held at the site in August 2024.
In a statement accompanying the accounts, Eric Trump, the former president’s son and executive vice president of the Trump Organization, said both properties are now seeing the benefits of sustained investment and renewed interest from foreign tourists.
He said: “The increase in sales was driven by luxury travel groups and leisure visitors to Turnberry, while the golf business exceeded expectations. The owners remain committed to their vision for the properties and are confident of positive financial improvement as investment activity progresses over the medium and longer term.”
The Turnberry resort, which employs more than 440 people, has undergone a major renovation by Dubai-based group Leisurecorp in a deal reportedly worth around $60 million since it was purchased by Trump in 2014. The course, redesigned by Martin Ebert, last hosted the Open Championship in 2009, when Stewart Cink defeated Tom Watson in a playoff. The R&A has since declined to bring the major tournament back on stage, citing logistical challenges and, in recent years, political sensitivities surrounding the Trump brand.
Still, the organization announced earlier this year that it was conducting new feasibility studies into Turnberry’s future as a championship venue, suggesting that Turnberry may not be permanently removed from the program.
In Aberdeenshire, where the first Trump course opened in 2012 after a long and contentious planning battle over environmental concerns, the Trump Organization remains focused on expansion. Trump himself visited the site in July 2024 to open a second course designed by renowned architect Martin Hawtree as part of his efforts to transform the coastal area into a global golf destination.
Sarah Malone, executive vice president of Trump International Scotland, said both properties “experienced significant sales growth across all revenue streams in 2024, achieving their highest annual sales ever.”
“Both companies have also benefited from major capital investments to further expand and improve their world-class golf courses and leisure facilities,” it added.
Neither company declared a dividend for the year. Trump International employs more than 100 people, with both properties continuing to be supported by the Trump Organization’s broader investment strategy in European hotel and golf properties.
