Trump Doonbeg in Ireland has reported operating profits of €509,892 for 2021-22, with the County Clare venue recording only its second ever profitable set of accounts since the former US president bought the resort in 2014.
New accounts show TIGL Ireland Enterprises Ltd, which owns Doonbeg, returned to operating profit after revenues increased by 90 per cent, or €3.4 million, from €3.76 million to €7.17 million. The company sustained operating losses of €1.98 million in 2020 due to the impact of the pandemic, while it operated at a small operating profit in 2019, making just over €2,000.
The business was boosted in 2021 by staycations during the summer as most people opted to holiday in Ireland due to ongoing Covid-19 travel restrictions, although a chief factor behind the operating profit was €1.84 million received in Covid-19 support from the Irish government.
A note attached to the accounts states that ‘while the hotel had to close for a period in 2020 and 2021 in line with government guidelines and restrictions, it has performed well since re-opening’. The group recorded a pre-tax loss of €1.55 million, but only after taking into account non-cash depreciation and amortisation charges of €2.05 million.
The resort has planning permission for a €40 million development plan that includes 53 holiday homes, a ballroom room, a leisure centre and a new restaurant.
Doonbeg currently employs 137 staff, down by almost 100 on pre-pandemic levels.
Joe Russell, Doonbeg’s General Manager, said: “Despite worldwide staffing shortages the property has maintained its core staffing complement, a testament to the company’s focus on retention and employee well-being.”