Former President Donald Trump’s recent social media activity has steered attention towards the LIV Golf tournament held at Trump National Doral in Miami. The tournament, backed by a Saudi investment fund, has been a successful event for the past three years. Despite Trump’s financial setbacks, particularly with his media and technology group, his real estate empire, including Doral, remains a substantial asset worth just under $2 billion.
Trump’s significant investment in renovating Doral has paid off with a surge in value due to increased revenues and profits. The golf resort industry as a whole is experiencing a boom, with demand rising and supply decreasing. Doral, with its four courses, has been well-positioned to take advantage of the post-pandemic trend of hybrid work enabling longer weekends. The recent success of the club has also been attributed to hosting high-profile events like the LIV Golf tournaments.
Doral’s South Florida location has also contributed to its increase in value, with the Miami area experiencing high commercial real estate sales and home values. The hotel business at Doral has seen steady growth in revenues from its 643 rooms and food and beverage sales, catering to high-end clientele who are willing to spend more on luxury accommodations. However, rising insurance costs in Florida and concerns over a cooling economy could pose challenges for the club’s future growth.
Despite these potential hurdles, Trump has proposed future development plans for Doral, including replacing two hotel buildings with residential units and additional amenities. The impact of the Trump brand on property valuations has been mixed, with some locations seeing a decrease in value due to association with the former president. However, in a red-trending swing state like Florida, Trump’s properties may not be as negatively affected by his political persona and could see buoyed values from his quieter supporters in the future.
As Trump’s financial situation continues to evolve, his investments in properties like Doral provide a stable asset amidst fluctuations in other sectors of his portfolio. The success of Doral in the golf resort industry’s current climate reflects Trump’s ability to capitalize on market trends and leverage his assets for continued growth. With the potential for future developments and ongoing profitability, Doral remains a key part of Trump’s real estate empire and a significant contributor to his overall net worth.
