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Thursday, April 22, 2021

Revenues at Trump properties sink during pandemic

Duration: 01:29s 0 shares 4 views
Revenues at Trump properties sink during pandemic
Revenues at Trump properties sink during pandemic

Some of former President Donald Trump's most high-profile hospitality properties took a large revenue hit last year as COVID-19 lockdowns hurt business, according to a financial disclosure filed on his final day in office.

Conway G.

Gittens reports.

Just one day after President Trump left the White House, the financial strain of his family business is coming into focus.

Not even the resort properties of the former president were spared from the fallout of decreased travel and state lockdowns during the health crisis last year.

According to financial documents filed Wednesday - his final day in office - most of his properties took a hit last year.

His Trump International Hotel in Washington D.C.

Saw revenues in 2020 and the first three weeks of 2021 plunge 63 percent, compared to his 2019 disclosure.

And the Trump property in Las Vegas saw a 61 percent drop in sales, while the Trump National Doral golf course in Florida saw a 43 percent fall in sales.

The only bright spot: Mar-a-Lago, the Florida property where he is expected to spend most of his time as a private citizen.

Revenue at that property actual saw a 13 percent annual gain.

That, of course, is the place where Trump played host to political allies and foreign dignitaries.

Trump was required to file the regular financial disclosures before leaving office, and with no tax returns to scour, this is the fullest glimpse into his finances.

Besides the drop in activity at his properties, the disclosure also revealed Trump’s debt.

The Trump business has five separate lines of credit worth at least $50 million each …most of that debt comes due within the next four years.

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