Trump Doral Resort’s Income Drops 69% in Two Years
Donald Trump's prized Doral Miami resort has gone into a steep decline, with its net operating income falling by 69 percent in two years, The Washington Post reports. The Doral was listed in the president’s federal disclosures as his biggest-earning hotel, but room rates, banquets, golf and overall revenue have all taken hits since 2015, when he declared himself a candidate for president. The Trump Organization reportedly expected to take in $85 million in revenue in 2017, but only managed $75 million. “They are severely underperforming,” Trump tax consultant Jessica Vachiratevanurak told a Miami-Dade County official in an attempt bid to lower the property’s tax bill. She admitted: “There is some negative connotation that is associated with the brand.” In a statement to the Post, the Trump Organization reportedly tried to blame a downturn in tourists from fears of the Zika virus in 2016, and hurricanes in 2016 and 2017. However, tax documents provided to Miami-Dade County over the same period showed local rivals outperforming Doral, the Post notes.