Donald Trump faces financial setback: Scottish Golf resorts suffer heavy losses

Oil price crash and currency costs are considered the major reasons behind the losses at Donald Trump's golf courses

Donald Trump

US President Donald Trump is a proven businessman, but something is not going right with his Scottish golf courses. The latest account statement of his golf courses indicates that the Menie Estate development in Aberdeenshire and Turnberry in Ayrshire have suffered losses of £1.4 and £ 17.6 million respectively.

Worse run of Donald Trump's companies in Scotland continues

Even though Donald Trump handed over the control of courses to his Donald Junior and Eric soon after he won the presidential election, but still he retains financial interests in these properties. Trump's companies have been facing several setbacks from the Scottish soil since its debut a dozen years ago and now, with this pathetic financial reports, troubles are mounted upon the companies.

The Scottish wing of Trump's company says that the losses in Turnberry were the result of the course's six-month closure for renovation. Experts believe that the oil price crash and fluctuating pound value have also played their crucial role in catalyzing the losses.

Confidence still at its peak

Trump's companies in Scotland have doubled the losses when compared to the previous year, and this is undoubtedly a matter of worry for the Trump organizations which faced various issues including environmental allegations from the Scottish people.

When asked about the huge losses, Amanda Miller, a spokeswoman for the Trump Organisation refused to comment.

On the other hand, in the recently submitted financial report, Eric, son of Donald Trump expressed his confidence in bringing things back on track. Eric stated that the resorts will attract more golf lovers from now, as they are now renovated, and the amenities are more luxurious than ever before.

"It is expected that revenue will increase in subsequent years as the property is re-established as an industry-leading resort," wrote Eric in the account, The Guardian reports.

Scottish people not happy with Trump's Companies

The major anger of Scottish people towards Trump's companies is centered around his luxurious resort in Aberdeen overlooking the North Sea. Many residents in the area complained of the 'Bullying Tactics' which Trump's company is adopting to acquire the land. In the midst of these developments, a local fisherman emerged a National hero when he refused Trump's offer of a whopping US$690,000 for his land.

We should wait and see to know how Trump's Golf courses in Scotland will come up from this mammoth financial loss in the coming years.