Trump’s Family Real Estate Business Revenue Plummets

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Donald Trump leaves behind a mass of failed businesses. Soon after he stepped into the White House, high-end Trump properties started hemorrhaging money. But why would that be?

It was because people do not want to be associated with his name, so vacancies were way up. Then, the COVID pandemic did not help his entertainment/golf business either.

CNN Business reported that even his Trump International Scotland golf resort tanked:

‘Revenue fell 62% to $9.8 million at Scottish golf resort Turnberry.’

Trump International Hotel
  • ‘Leased the building from the federal government at $3 million yearly
  • Failed to secure a buyer at the original asking price of $500 million.
  • Paid the federal government $3 million annually in lease payments.
  • Lost more than $73 million since 2016.’

The ex-president’s brand shifted from wealth to the violent January 6 attempted coup images. Most of his followers are “rural and working-class” voters. So they are not the ones able to pay the big bucks Trump needed to pay for his place in the high-finance world. The fact is, Trump has just managed to screw up much of his real estate and hotel/entertainment enterprises.

Trump National Doral Miami Golf Resort
  • ‘Tournaments and charity events were canceled by organizations wanting to avoid associating with Trump.
  • Revenues fell from $92 million in 2015 to $75 million in 2017.
  • Doral’s intake was $44 million last year.
  • Deutsche Bank AG secured his loans with around a $340 million investment.
  • The bank has no plans to extend the loans after they come due in 2023 and 2024.’

Consultant Jessica Vachiratevanurak testified at a 2017 hearing of the Miami-Dade Value Adjustment Board, according to Reuters:

‘It’s actually not about the property, it is about the brand.’

The 40 Wall Street 72-story skyscraper:

  • ‘Its problems started before the pandemic then went into deep decline.
  • Some of its large anchor tenants, including the Girl Scouts and a nonprofit called TB Alliance, were trying to break their leases.
  • Prospective commercial tenants did not want to be affiliated with the Trump name.
  • Occupancy was 84% in March 2021, well below the average of about 89% for that downtown New York office market.
  • The rents Trump has been able to charge are lower, too – between $38 and $42 per square foot in a market where the average runs closer to $50.
  • Trump refinanced 40 Wall Street’s $160 loan in 2015 by personally guaranteeing $26 million.
  • In 2020 the ex-president was added to an industry watchlist for commercial mortgage-backed securities at risk of defaulting.
  • In the first quarter of the year, according to the KBRA report, the debt-service coverage ratio, a statistic monitored by banks, dipped to a number indicating that the building’s cash flow cannot cover its debt payments.’
His New York businesses:
  • ‘The Trump SoHo hotel in lower Manhattan has rebranded as The Dominick in 2017.
  • New York City in January canceled his leases on a golf course, two Central Park skating rinks, and a carousel.’

Trump had already shifted from the tangible real-estate business to an ethereal Trump name branding:

‘Those searing images, along with years of bitter rhetoric, are costing Trump money.  and his lenders are warning that the company’s revenues may not be sufficient to cover his debt payments, according to Trump’s financial disclosures as president, Trump Organization records filed with government agencies, and reports from companies that track real-estate company finances.’

Trump International Hotel Las Vegas
  • ‘Brought in $22.9 million in 2017.
  • It dropped like a rock throughout his presidency to $9.2 million.’

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