Wednesday, September 17, 2014
Inquirer Daily News

Can golf save Trump as brand fades on TV, schools, condos?

Donald Trump says it's a good time to buy golf courses cheap

Can golf save Trump as brand fades on TV, schools, condos?

"Donald Trump, the real estate developer turned TV personality, is betting his name will boost the value of his golf courses even as the premium for the brand declines on condo properties and ratings slide on his show, 'The Apprentice,'" says Bloomberg here.

"Trump has acquired nine golf properties in the U.S., including four since 2008, after mostly steering clear of using his own money to buy real estate since 2005," including $3.7 million for the former Pine Hill course in South Jersey last year. Trump is also building a billion-dollar golf resort in Scotland.

"Trump is expanding his golf holdings as the number of private clubs in the U.S. fell to 4,256 this year, down 3.4 percent from 2008, according to the National Golf Foundation." The recession has shut clubs in South Jersey (Woodbury) and Wilmington (Hercules), among other places..

"Trump says that putting his name on the courses increases membership sales and the fees he can charge.(But) the Trump name hasn’t prevented the failure of real estate developments in Florida and Mexico, nor has it helped his New York condos sell for more than other apartments in the city," Bloomberg concludes.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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