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Trump’s prized Doral resort is in steep decline, according to company documents
Washington Post via MSN ^ | 5/15/19 | David Fahrenthold, Jonathan O'Connell

Posted on 05/15/2019 10:56:47 AM PDT by DoodleDawg

Late last year, in a Miami conference room, a consultant for President Trump’s company said business at his prized 643-room Doral resort was in sharp decline.

At Doral, which Trump has listed in federal disclosures as his biggest moneymaker hotel, room rates, banquets, golf and overall revenue were all down since 2015. In two years, the resort’s net operating income — a key figure, representing the amount left over after expenses are paid — had fallen by 69 percent. Even in a vigorous economy, the property was missing the Trump Organization’s internal business targets; for instance, the club expected to take in $85 million in revenue in 2017 but took in just $75 million.

“They are severely underperforming” other resorts in the area, tax consultant Jessica Vachiratevanurak told a Miami-Dade County official in a bid to lower the property’s tax bill. The reason, she said: “There is some negative connotation that is associated with the brand.”

(Excerpt) Read more at msn.com ...


TOPICS: News/Current Events; US: District of Columbia; US: Florida
KEYWORDS: dadecounty; davidfahrenthold; districtofcolumbia; dnctalkingpoint; dnctalkingpoints; doral; florida; golf; hitpiece; jeffbezos; jonathanoconnell; mediawingofthednc; miami; partisanmediashills; presstitutes; smearmachine; trump; trumpworld; vachiratevanurak; washingtoncompost; washingtonpost
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To: DoodleDawg

IMHO, the “Washington Post” should invest less of its “reporters’” time on “so-what?” articles, like this one that “reports” that Trump’s accountant is working to lower his property tax bill for the Doral. SO WHAT? This is NOT news.

IMHO, the “Washington Post” should invest more of its reporters’ time “investigating” real questions, like whether the foreigners who paid those huge bribes to the Clinton Foundation received all the special treatment from our State Department that they paid for.


21 posted on 05/15/2019 11:33:13 AM PDT by pfony1 (Put Up or Shut Up!)
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To: DoodleDawg

Of course if Mayor Pete owned it, the revenue would be off the charts. He would be considered a genius turning it into a frisbee golf destination and, the crown jewel in the tiara, host of the World Cornhole Championship.


22 posted on 05/15/2019 11:36:08 AM PDT by VietVet876
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To: DoodleDawg

Perhaps Tiger has regained enough clout to put some pressure on the PGA re Doral.


23 posted on 05/15/2019 11:36:43 AM PDT by ryderann
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To: DoodleDawg
the club expected to take in $85 million in revenue in 2017 but took in just $75 million.

The 10 million figure is probably because it lost a PGA tour event.

24 posted on 05/15/2019 11:38:30 AM PDT by 1Old Pro
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To: JayAr36; SaveFerris; DoodleDawg

Nice to know Jeff Bozo remains concerned about Trump’s welfare.


25 posted on 05/15/2019 11:41:52 AM PDT by 4Liberty ("The Democrats are the https://i.redd.it/lefyj42eynx21.jpgParty of Crime." - Donald J. Trump)
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To: DoodleDawg
In two years, the resort’s net operating income — a key figure, representing the amount left over after expenses are paid — had fallen by 69 percent. Even in a vigorous economy, the property was missing the Trump Organization’s internal business targets; for instance, the club expected to take in $85 million in revenue in 2017 but took in just $75 million.

Well, so much for the emoluments clause as an impeachment article. If Trump's business profits are falling, then clearly foreign governments aren't trying to buy influence through use of Trump properties.

26 posted on 05/15/2019 11:44:58 AM PDT by Yo-Yo ( is the /sarc tag really necessary?)
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To: DoodleDawg
in a bid to lower the property’s tax bill

There are people here in Pittsburgh who leave 70-year old insulbrick on the outside of their home and never paint the trim for the same reason.


27 posted on 05/15/2019 11:46:15 AM PDT by Buckeye McFrog
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To: DoodleDawg

Every time I see the word “Doral” the first thing that pops into my head is “Taste me, Taste me!”

From a TV commercial for Doral cigarettes. It left me permanently scarred.


28 posted on 05/15/2019 11:47:58 AM PDT by Flash Bazbeaux
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To: DoodleDawg

not. even. worried.


29 posted on 05/15/2019 11:51:02 AM PDT by SoFloFreeper
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To: Flash Bazbeaux

How the golf course got its name:

1950-1980
In the late 1950s, real estate pioneer Doris and Alfred Kaskel purchased 2,400 acres of swampland between NW 36 Street and NW 74 Street and from NW 79 Avenue to NW 117 Avenue for about $49,000 with the intention of building a golf course and hotel. In 1962, the Kaskel’s dream came true when they opened a hotel and country club that featured the Blue, Red and Par 3 golf courses. They named it Doral - a combination of Doris and Alfred.

According to a story in The Miami Herald, Alfred was born in Poland and migrated to New York when he was 21 years old and became a real estate developer. His first project was building 15,000 apartments in New York. After marrying Doris, the Kaskels moved south and built the Doral Beach Hotel and the Carillon Hotel on Miami Beach. Once the Country Club was built, guests were transported from the Beach to the Country Club for a day on the golf course.

As Doral’s very first structure, the Doral Hotel and Country Club became the area’s hot spot. In the second year of operation, the Kaskels hosted the first Doral Open Invitational, Florida’s major PGA event. After ownership changed through the years, Donald Trump bought the Club in 2012 for $150 million and its name changed to Trump National Doral Golf Club. It continues to be internationally known for its golf courses, especially the Blue Monster, and it hosted the PGA Tour Tournament until 2016.

https://www.cityofdoral.com/about/doral-history/


30 posted on 05/15/2019 11:59:44 AM PDT by Moonman62 (Facts are racist.)
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To: Buckeye McFrog

I don’t see how income associated with a property affects its tax bill. A business will become more or less valuable depending on its cash flow, current and projected. The real estate value should be based on what a willing buyer would pay a willing seller for it. A business may be going broke, but its real estate value depends on different factors.


31 posted on 05/15/2019 12:01:12 PM PDT by Stevenfo
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To: DoodleDawg

Why would I care about the success or failure of one of his businesses?


32 posted on 05/15/2019 12:01:18 PM PDT by DesertRhino (Dog is man's best friend, and moslems hate dogs. Add that up. ....)
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To: Moonman62
it hosted the PGA Tour Tournament until 2016.

I guess that explains the revenue drop in 2017. Too bad the reporter didn't want to tell the truth.

33 posted on 05/15/2019 12:03:03 PM PDT by 1Old Pro
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To: Stevenfo

A like Doral derives it’s value from the net operating income it is anticipated to produce with the market value directly proportional to the net operating income. I don’t know about Florida but in some taxing jurisdictions, an income property owner has the option of giving the government income and expense information or not. If not given, the taxing authority will assess the property using similar properties as tax comparables. In the real property tax assessment appeal world, the owner with the real good numbers will likely withhold them at appeal time and the owner of an alligator will likely gladly hand them over to the assessor.


34 posted on 05/15/2019 12:08:33 PM PDT by VietVet876
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To: Stevenfo
I don’t see how income associated with a property affects its tax bill.

This has become an issue in nearly all cases that involve dying malls. "When you assessed us our income was $X. But since that time we have lost 30 tenants, including two anchor stores. Our income has been reduced by $X and it's unfair that you keep our assessment at the same level."


35 posted on 05/15/2019 12:09:29 PM PDT by Buckeye McFrog
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To: 1Old Pro

Tim Finchem, who made the decision to move the tournament, used to work for Jimmy Carter.


36 posted on 05/15/2019 12:13:05 PM PDT by Moonman62 (Facts are racist.)
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To: Mouton

Yep. The PGA moved that tournament to MEXICO!


37 posted on 05/15/2019 12:22:11 PM PDT by subterfuge (RIP T.P.)
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To: Pikachu_Dad
What with 1/2 the population hating on the man... not much of a surprise.

Exactly what I was thinking.

38 posted on 05/15/2019 12:25:34 PM PDT by Gay State Conservative (Bill Barr:The Bill Belichick of Attorneys General)
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To: DoodleDawg

It also proves that there is only 20% of hardcore Dems who won’t use the facility anymore.


39 posted on 05/15/2019 12:31:02 PM PDT by Harpotoo (Being a socialist is a lot easier than having to WORK like the rest of US:-))
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To: 4Liberty

“Nice to know Bezos is concerned about Trump’s welfare.”

With Walmart initiating one-day delivery for online purchases, Bezos should start worrying about his own business.


40 posted on 05/15/2019 12:34:05 PM PDT by txrefugee
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