Trump’s Doral resort revenue has dropped since presidential campaign: report


President Trump’s Doral luxury resort in Miami is facing a steep decline in profitability that business consultants reportedly say is due to negative associations with the Trump brand.

Financial documents obtained by The Washington Post reveal that the resort, which is one of the top profit-earners for the Trump Organization, has seen a sharp drop in profitability following Trump’s election to the White House in 2016.

{mosads}In 2017, the resort property missed the company’s revenue targets by $10 million, taking in $75 million in revenue, while the facility’s net operating income had dropped by 69 percent in just two years.

Tax consultants working for the company have reportedly admitted that profit losses were due to negative feelings about the Trump brand, according to the Post, telling Miami-Dade officials that the property had suffered due to Trump’s public persona.

“[Trump properties] are severely underperforming” other nearby resorts, tax consultant Jessica Vachiratevanurak reportedly told a local tax official while working to reduce the Trump Organization’s tax burden.

“There is some negative connotation that is associated with the brand,” she reportedly added.

The president’s son Eric Trump remains executive vice president of the company, along with his brother Donald Trump Jr., while Trump remains in the White House, and disputed the assertions of the Post’s report.

“This story is completely senseless,” Eric Trump said, according to the Post. “Our iconic properties are the best in the world and our portfolio is unrivaled by anyone.”

The Trump Organization also issued a statement calling 2018 a “remarkable” year for the Florida property while declining to release revenue information, explaining that the declines were due to Zika virus fears in 2016 and hurricanes in 2016 and 2017, which drove tourists away from the entire region.

Tags Donald Trump Donald Trump Jr. Eric Trump Miami Trump National Doral Miami trump organization Trump properties

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