by “The financial statements reflect the fact that significant investments are being made on an ongoing basis,” Ms Malone said. “This includes expenses across all of our operations and the investments we make in hosting annual tournaments.”
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“From the start, this development has been driven by the Trump family’s love of Scotland and their great love of golf. The Trump Organization’s commitment to this property and its investment in golf in Scotland – and by extension the Scottish economy – remains unwavering and has never wavered.”
She added: “Such commitment should be celebrated.”
According to Companies House, Trump International Scotland’s pre-tax loss almost doubled in 2023 from £738,344 to £1.4 million. This is despite a slight increase in sales to £3.74m, compared to £3.6m in the previous 12 months.
According to the reports, there were “significant” increases in tournament and marketing spending, but these are expected to result in increased revenue “in 2024 and beyond.”
“This investment – at the family’s own expense – has been a key factor in putting the north east of Scotland on the world golf map,” Ms Malone said.
“In addition, Trump International Scotland has secured coveted golf rankings over the last year, including top 10 and top 100 placings. Of particular note are the Championship Links rankings at number two out of the 50 modern golf courses in Great Britain and Ireland, as well as the World Golf Awards.” The resort was named the best golf course in Scotland.
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“Our next phase of investment includes additional world-class championship compounds, additional resort facilities and accommodation. Building a new world-class golf destination requires significant upfront and ongoing investment, and no other developer is more committed than Trump.”
Separate accounts filed on behalf of SLC Turnberry show the 800-acre resort in South Ayrshire – which Mr Trump purchased in June 2014 – saw pre-tax profits rise from £186,000 to £3.8m in 2023. This was the second consecutive year the company reported a profit after seven years of losses.
