Trump’s Pandemic Woes Are Hitting Hardest In His Own Backyard

Bloomberg Quicktake: Now published this video item, entitled “Trump’s Pandemic Woes Are Hitting Hardest In His Own Backyard” – below is their description.

After leaving the White House, Donald Trump decamped to Mar-a-Lago, the club that served as a backdrop to much of his presidency and where he still gets a standing ovation from members in the main dining room. But it’s another Florida property, about an hour and a half south, that’s key to his business empire’s future.

With its four golf courses and sprawling luxury hotel, the Trump National Doral Miami has for years been one of the Trump Organization’s biggest cash cows. Now, it is among the properties suffering most from the Covid-19 pandemic and a contentious presidency capped by a second impeachment.

Revenue at the Florida resort has tumbled, hundreds of workers have been furloughed and the broader Trump brand is under distress. For the billionaire businessman-turned-politician, who bought Doral out of bankruptcy in 2012, the property holds particular importance: It has $125 million in loans coming due in two years that he has personally guaranteed.

Eric Trump, who took the reins of the Trump Organization with his brother Don Jr. after Donald Trump became president, said in an interview that Doral is a highly valuable property that “has been a great success story for our company.”

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