The Clare Champion Clare news, sport, entertainment and local notes
Donald Trump has resigned as director of the companies behind his golf resort and hotel in Doonbeg.
Submissions to the Companies Registration Office show that Mr Trump stepped down as a director of the two companies which operated Trump International Golf Links and Hotel in Doonbeg on January 19, a day before his inauguration as US President.
TIGL Ireland Enterprises Ltd and TIGL Ireland Management Ltd, which are behind the Trump International Golf Links and Hotel in Doonbeg, continue to list Mr Trump’s children Ivanka, Eric and Donald Jr as directors.
The move follows a pledge by Mr Trump to resign all of his directorships in order to avoid any conflict of interest as US President.
The Doonbeg resort was acquired by Mr Trump in 2014 for around €8.7million. It was valued at €23 million by the businessman just one year later in financial disclosures filed with the Federal Election Commission.
Newly filed accounts show that the company incurred a loss of €2.5m during 2015, bringing its total accumulated losses to €5,128,639 since it was set up by Mr Trump in January 2014.
The firm had tangible assets valued at €18,470,013 at the end of 2015. These included the hotel and golf course which has been substantially redeveloped and redesigned. In their report, the company’s dirtectors noted that the golf course was partially closed to facilitate these works during the financial year, which limited its business operations and product offering.
A total of €20million was invested on captial improvements to enhance the golf course and hotel in 2014 and 2015.
