DONALD Trump’s first Scots golf course has lost money for the 11th year in a row.
The tycoon’s resort at Menie, Aberdeenshire, has never posted a profit since it first opened in 2012.
And now the latest accounts filed with Companies House reveal it shed another £1.4million in 2023.
That’s up from £730,000 the year before and it means Trump International Golf Club Scotland has notched up total losses of more than £16million.
Director Eric Trump pinned the blame on soaring utility bills, as well as expenses run up during events.
He said: “This year saw a sizable increase in tournament and marketing expenditures, which we expect will deliver elevated levels of revenue performance in 2024 and beyond.
“As well as an abnormal increase in energy costs which impacted all industries nationwide.”
In 2023 the resort played host to the PGA Seniors Championship and work was underway on a second golf course.
Turnover at the site was £3.7million, up from £3.5million in 2022.
But admin costs were more than £2million, up from £1.5million the year before.
The accounts reveal that during 2023 the resort got a £4.7million interest-free loan from parent company DJT Holdings.
And it also owes more than £40million to former US President Donald Trump. Total workers at the site rose from 81 to 84 over the year.
In the report Eric Trump said the resort managed to boost sales across all areas, especially in retail and food and drink.
He added: “The industry in which the company operates is competitive and challenging.
“However, the directors and management have detailed knowledge and experience of this sector.”
There was better news at Turnberry, Trump’s other Scottish golf course.
It posted a profit of £3.8million in 2023, up from £186,261 the year before.
It’s the second year in a row the site has been in the black following seven years of losses, after Trump bought it for £39m in 2014.
Trump promised to spend £1billion building the “best golf course in the world” on the protected sand dunes at Menie.
He vowed to create 6,000 jobs and boasted that the development could be a replacement for the oil industry.
After a battle he got permission for a five star hotel with 450 bedrooms as well as 950 luxury properties.
So far he’s delivered just a fraction of that and during legal action in the US admitted he might never build houses in Aberdeenshire.