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Trump: I'm still making money off golf industry


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Posted

Ahead of the WGC-Cadillac Championship at the newly renovated Trump National Doral in Miami , Donald Trump spoke to CNBC about the state of golf—an industry that by many accounts is struggling . Despite the game's declining participation, golf course closures that exceed openings and sluggish equipment sales, it hasn't deterred the real estate mogul from investing heavily in the sport.

"I actually think golf at the high end is doing phenomenally well," he said

Trump Bullish on Golf

Just to add another perspective.


Posted

Not surprising considering growing inequality in the US.

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Posted

I don't believe that Trump would ever tell anyone that any of his investments is currently losing money.  Consequently, I don't necessarily believe him when he's saying that it's all going great.  Everything he says is a form of self-promotion, he's the billionaire version of a carnival barker.

Dave

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Posted

I believe him. Just yesterday it was announced that his new Ferry Point golf course that's opening up in NY is going to have greens fees as high as $215, despite being across the Sound from Bethpage Black, where non-residents pay $150, and elsewhere on LI, where a $100 round is tough to find. There has to be some market for what he's doing.

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Posted
Doesn't pretty much every industry do well "at the high end?" That's what a high end is.

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Posted

<>

You're right, dkolo, there are always people who will believe that more expensive is better.  And of course, the Donald will be telling everyone that HIS new course is far superior to Bethpage Black.  He already claims to own the best course in Scotland, and the best course in Ireland, and there are people who will believe him.

However, I just did a check of a couple of Trump properties.  As of right now, though, if you want to play his course near Aberdeen tomorrow, the only tee times available are any time between 9 and 11 AM.  Similarly, you can play any time tomorrow at Doonbeg in Scotland.  I know its not exactly prime season but for comparison the Ballot for the Old Course is completely full today.  Of course, the Old Course costs about 40 pounds less than Trump Aberdeen.

Dave

:callaway: Rogue SubZero Driver

:titleist: 915F 15 Fairway, 816 H1 19 Hybrid, AP2 4 iron to PW, Vokey 52, 56, and 60 wedges, ProV1 balls 
:ping: G5i putter, B60 version
 :ping:Hoofer Bag, complete with Newport Cup logo
:footjoy::true_linkswear:, and Ashworth shoes

the only thing wrong with this car is the nut behind the wheel.

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Posted

I don't believe that Trump would ever tell anyone that any of his investments is currently losing money.  Consequently, I don't necessarily believe him when he's saying that it's all going great.  Everything he says is a form of self-promotion, he's the billionaire version of a carnival barker.

I disagree, when his casinos in Atlantic City were losing money he admitted it and sold them off.  While he is a huge self promoter he doesn't like to lose money and he knows that just saying everything is great isn't going to fix a losing business.

I believe his golf courses are doing well because they appeal to a high end customer and they aren't just golf courses, they are resorts.

Joe Paradiso

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Posted

Not surprising considering growing inequality in the US.

Yea, what are we gonna do about that? It's not just the US by the way.

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Posted

Yea, what are we gonna do about that? It's not just the US by the way.

You have to start your own business and work for yourself.  The way corporations and management are measured these days (via stock market) the inequity is only going to get worse.

Joe Paradiso

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Posted

Quote:

Originally Posted by Ernest Jones

Yea, what are we gonna do about that? It's not just the US by the way.

You have to start your own business and work for yourself.  The way corporations and management are measured these days (via stock market) the inequity is only going to get worse.

:hmm:

But if we all did that where would we get employees to work for our businesses??

OT, I guess, but that doesn't seem to be an answer.

Yours in earnest, Jason.
Call me Ernest, or EJ or Ernie.

PSA - "If you find yourself in a hole, STOP DIGGING!"

My Whackin' Sticks: :cleveland: 330cc 2003 Launcher 10.5*  :tmade: RBZ HL 3w  :nickent: 3DX DC 3H, 3DX RC 4H  :callaway: X-22 5-AW  :nike:SV tour 56* SW :mizuno: MP-T11 60* LW :bridgestone: customized TD-03 putter :tmade:Penta TP3   :aimpoint:

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Posted

I believe him. Just yesterday it was announced that his new Ferry Point golf course that's opening up in NY is going to have greens fees as high as $215, despite being across the Sound from Bethpage Black, where non-residents pay $150, and elsewhere on LI, where a $100 round is tough to find. There has to be some market for what he's doing.

That's a bargain, compared to what the green fees are here in so cali. 280.00 usd, and the price drops according to the time of day.. :roll: Oh, and if you want a Trump ball cap, $30.00 + tax..really..?

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Posted

That's a bargain, compared to what the green fees are here in so cali. 280.00 usd, and the price drops according to the time of day.. Oh, and if you want a Trump ball cap, $30.00 + tax..really..?

I've still never paid more than $30 for a round of golf, haha. I'm thinking that if I can get my drives reasonably under control at the 250ish I carry now, I may treat myself to a $75 round at Bethpage Black for my birthday right since it's right at the time of the season when my game is in the best shape. But that's as close as I'll get to paying Trump prices, haha.

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Posted

I've still never paid more than $30 for a round of golf, haha. I'm thinking that if I can get my drives reasonably under control at the 250ish I carry now, I may treat myself to a $75 round at Bethpage Black for my birthday right since it's right at the time of the season when my game is in the best shape. But that's as close as I'll get to paying Trump prices, haha.


Never paid more than $30 for 18 with a cart?

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Posted

Never paid more than $30 for 18 with a cart?

I walk with a pushcart. Also try to play twilight times if light permits midseason because it gets the round in in the low $20s. Had a riding cart a few times through a Hot Deal on Golfnow, but I like the exercise of walking and having my clubs right next to me at the ball in case I change my mind.

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Dom's Sticks:

Callaway X-24 10.5° Driver, Callaway Big Bertha 15° wood, Callaway XR 19° hybrid, Callaway X-24 24° hybrid, Callaway X-24 5i-9i, PING Glide PW 47°/12°, Cleveland REG 588 52°/08°, Callaway Mack Daddy PM Grind 56°/13°, 60°/10°, Odyssey Versa Jailbird putter w/SuperStroke Slim 3.0 grip, Callaway Chev Stand Bag, Titleist Pro-V1x ball

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Posted
I walk with a pushcart. Also try to play twilight times if light permits midseason because it gets the round in in the low $20s. Had a riding cart a few times through a Hot Deal on Golfnow, but I like the exercise of walking and having my clubs right next to me at the ball in case I change my mind.

Very cool. I actually got a push cart towards the end of last year and I did enjoy it. 18 would be a little much walking for me but I hope to change that by the end of this season.

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Posted
Very cool. I actually got a push cart towards the end of last year and I did enjoy it. 18 would be a little much walking for me but I hope to change that by the end of this season.

I think you'll love it! Nothing makes you feel like a tour player more than letting your cart go ahead of you down a downslope and you can just walk down a fairway with your hands free, haha. I don't wanna talk about this too much here because it's off topic, but walking is great if the course is conducive to it.

Dom's Sticks:

Callaway X-24 10.5° Driver, Callaway Big Bertha 15° wood, Callaway XR 19° hybrid, Callaway X-24 24° hybrid, Callaway X-24 5i-9i, PING Glide PW 47°/12°, Cleveland REG 588 52°/08°, Callaway Mack Daddy PM Grind 56°/13°, 60°/10°, Odyssey Versa Jailbird putter w/SuperStroke Slim 3.0 grip, Callaway Chev Stand Bag, Titleist Pro-V1x ball

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Posted
I don't believe that Trump would ever tell anyone that any of his investments is currently losing money.  Consequently, I don't necessarily believe him when he's saying that it's all going great.  Everything he says is a form of self-promotion, he's the billionaire version of a carnival barker.

You have misquoted him or simply misunderstood Trump. He said the high end is phenomenally, not "all is going great". Donald is one of the few investors in modern day golf, yes a self promoter. but look what he has done for golf. Anyone who is building a course and surrounding golf infrastructure is taking a huge risk. I admire him for his passion for the game.


Posted
High end Golf is like real estate in NYC or Tokyo. Even in a downturn, there is enough demand. Catering to the very high end usually means people who are recession proof. And golf courses who cater to that demographic are less affected than by private courses whose lose memberships when the economy goes South. Partly because many people, although they can afford the club, cannot continue if their finances take a hit. Unlike forgoing other expensive purchases for more tangible assets, golf clubs and high end destinations that cater to wealthier people usually get enough business from people insulated from downturns. In my area there are a number of private courses that went semi-private due to this. however that would never happen at a couple that I know of. They'll be exclusive and expensive forever.

—Adam

 

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