The Trump administration has picked Trump National Doral as a finalist for hosting the world’s most powerful leaders at the G7 summit next year.
Trump National Doral, an 800-acre golf resort in Doral owned by the Trump Organization, is in the running for the meeting after the Trump administration completed site surveys of possible locations for the event, Axios reported.
President Trump has previously touted Trump National Doral in federal disclosures as the Trump Organization’s most profitable resort.
But according to a recent report by the Washington Post, overall revenue at the golf resort is down since 2015 and net operating income declined by 69 percent from 2015 to 2017.
The property is “severely underperforming” other resorts in the area, tax consultant Jessica Vachiratevanurak told a Miami-Dade County official in an attempt to reduce the property’s tax bill. She said the reason is due to “some negative connotation that is associated with the brand,” according to the Washington Post.
Trump bought the 650-acre resort in 2012 for a reported $150 million. He borrowed $125 million from Deutsche Bank and embarked on $250 million in renovations.
Prior to the Washington Post story, little was previously known about the finances of Trump Doral, which has worked to attract golfers from South America. [Axios] — Keith Larsen