Trump’s resort revenue declined as the pandemic spread: financial disclosure

WASHINGTON (Reuters) – Some of former President Donald Trump’s most high-profile hospitality assets suffered a drop in revenue last year as COVID lockdowns hurt business, according to a financial disclosure filed Wednesday, his last day in office.

For example, the Trump International Hotel in Washington, DC, reported revenue of $ 15.1 million in 2020 and the first three weeks of 2021, according to Trump’s disclosure. It’s down 62.7% from 2019, according to its 2019 disclosure.

Circumstances were similar at Trump’s Las Vegas property, which saw revenues drop 60.5% to $ 9.2 million, and at its Florida golf course, Trump National Doral, revenues fell 42.7%. at $ 44.2 million.

A rare bright spot has been Trump’s Mar-a-Lago club in Palm Beach, Florida, where he is expected to spend most of his post-presidency time. Revenue from that property, which Trump often used to house foreign political allies and dignitaries, increased 13% year-on-year to $ 24.2 million.

The regular financial communications that Trump had to present as president offer one of the most comprehensive glimpses into the billionaire businessman’s finances, as Trump has steadfastly refused to release his tax returns, despite it being common practice for previous presidents.

Its final disclosure spanned 79 pages and detailed everything from his various real estate properties to what he received in pension payments as a member of the Screen Actors Guild. It also included a number of gifts Trump received as president, including an Ultimate Fight Championship belt, valued at $ 650, from Colby Covington, a friend of Trump’s fighter.

It also describes a number of sizable liabilities owed by Trump’s assets, including five separate lines of credit worth at least $ 50 million each. Most of Trump’s disclosed debt is expected to accrue within the next four years.

Reporting by Pete Schroeder; Editing by David Gregorio