Photo: Doral Gold Resort & Spa
It’s official: Donald Trump’s Trump organisation has purchased the famous Doral Golf and Spa Resort in Miami in a bankruptcy sale for $150 million, the company said Monday. That’s $20 million less than the price Trump reportedly agreed to pay for the troubled property in October.The property, which includes a 700-room resort and four golf courses, will receive a multi-million dollar overhaul, the company said.
“When Doral first opened, it was considered the best resort in the world,” Trump said in a statement Monday. “The combination of the property’s incredible location in the heart of Miami and our very significant investment in upgrading the resort will enable us to return Doral to its former glory if not surpass it. When completed, Doral will be the finest resort and golf club in the country.”
The club’s legendary Blue Monster golf course has hosted a PGA TOUR event every year since its opening, with the Doral Open from 1962 to 2006, and the World Golf Championship since 2007.
The hotel has four golf courses: the Blue Monster, the nine-hole Red, the new Jim McLean Signature Course, and the Par-3 course.
NOW WATCH: Executive Life videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.