President Donald Trump’s prized Doral golf course is “severely underperforming,” according to a consultant trying to lower the Miami property tax bill.
The president has listed Doral in federal disclosures as his biggest moneymaker hotel, but its net operating income fell by 69 percent between 2015 and 2017, reported the Washington Post.
“There is some negative connotation that is associated with the brand,” tax consultant Jessica Vachiratevanurak told a Miami-Dade County official.
The Post obtained documents and video — provided by the company’s tax consultants to the county and are legally required to be accurate — under Florida’s public-records law that show the Trump Organization’s problems are bigger than previously known.
“Profitability is down across the board,” said financial analyst Michael Bellisario, who reviewed the documents. “It’s clearly underperforming their expectations.”
The Trump Organization issued a statement that contradicted Vachiratevanurak, who represented the company, and blamed factors that had nothing to do with the president, such as the Zika virus in 2016 and hurricanes in 2016 and 2017.
Eric Trump, who runs his father’s day-to-day business, also contradicted what the company’s own data showed.
“This story is completely senseless,” Eric Trump told the Post in a statement. “Our iconic properties are the best in the world and our portfolio is unrivaled by anyone.”
Last year, Eric Trump insisted Doral was “on fire,” but the golf course lost its PGA Tour event after Trump called Mexicans rapists and drug dealers at the outset of his presidential campaign.
The Doral’s legendary “Blue Monster” golf course had been popular with South American tourists, according to Eric Trump, but the slur against Latino immigrants stung and eventually cost Trump the pro event.
Cadillac, the tournament’s main sponsor, pulled out in 2016, and Doral never found another sponsor.
The PGA Tour event left Trump’s golf course and moved to Mexico.