A financial disclosure report released hours after the end of the Donald Trump’s presidency shows that Trump International, his Pennsylvania Avenue hotel, suffered a 63 percent revenue loss in 2020. His Doral golf club outside of Miami took a nearly 43 percent hit, contributing to an almost 38 percent revenue decline for the Trump Organization as a whole. Revenues at his Loudoun County golf club remained fairly steady, with a 3.4 percent decrease.
In an interview with the New York Times, son Eric Trump attributed the losses to “government mandates” that prevented full operation of the Trump Organization’s holdings. Even without mandated closures, the pandemic has brought travel to a grinding halt.
Eric told the Times that the Trump Organization had “steady cash flow and relatively low debt compared to other real estate businesses” (it reported a total revenue of $278 million this year). But according to the Times, the company has over $300 million debt coming due over the next few years, much of which Trump has personally guaranteed.
The January 6 insurrection is not going to help. In recent days, the PGA announced it was stripping Trump’s Bedminster golf club in New Jersey of a major tournament. New York City has canceled contracts with the organization for the Central Park Carousel, two ice rinks, and the Trump Golf Links in the Bronx. And real estate broker JLL will no longer market the sale of the DC hotel.
The disclosure also listed gifts President Trump received in 2020. They include a $6000 computer from Apple CEO Tim Cook; a leather jacket from the executive chairman at Ford Motor Company; and a bronze bust of Mount Rushmore from South Dakota governor Kristi Noem.
Jane is a Chicago transplant who now calls Cleveland Park her home. Before joining Washingtonian, she wrote for Smithsonian Magazine and the Chicago Sun-Times. She is a graduate of Northwestern University, where she studied journalism and opera.
