A Trump Organization golf course in the Bronx reportedly lost more than $100,000 last year, marking the first time it’s ever landed in the red.
The city-owned Trump Golf Links at Ferry Point incurred $122,000 in losses during the April 2018 to March 2019 operating year, despite the fact that President Trump’s company operates the facility under a contract that makes it easier to profit — and it didn’t have to pay any rent for the first four years since opening in April 2015, The Washington Post reported.
The course is located in the district of Rep. Alexandria Ocasio-Cortez (D-N.Y.), a staunch critic of Trump. Each year, the number of rounds played on the course has declined, and overall revenue has dropped 14 percent, the Post reports, citing city documents.{mosads}
According to its latest “income statement,” the course has also been dealing with a dispute over a gas pipe, which the Trump Organization says is “inadequate.”
The company blamed New York City for installing the pipe that caused the course’s losses by delaying its opening of a new clubhouse that hasn’t been able to turn a profit, according to the Post.
Before last year, the golf course had managed to turn a profit of about $500,000 per year, the newspaper reports.
“He’s managed to do the impossible: get this amazing gift from the city, and lose money,” Geoffrey Croft, who works for watchdog group NYC Park Advocates, told the Post, adding that the Trump name’s “terrible reputation” and the club’s high golfing fees were to blame for the financial issues.
To play golf at the Trump Organization course, fees are as high as $224 per round, compared to other public courses in the city that charge no more than $53, the Post notes.
The loss comes as other Trump Organization golf courses, including the president’s Doral resort in Florida and courses in Scotland and Ireland, have reportedly lost money or experienced declining revenues.