Donald Trump has told a bankrupt golf resort: You’re hired! The real estate mogul sealed a deal to buy the Doral Golf Resort and Spa in South Florida for $150 million, and he plans to spend another $150 million sprucing it up.
“When Doral first opened, it was considered the best resort in the world,” Trump said of the 50-year-old resort, which is famous for its Blue Monster golf course.
“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.”
Marriott, which has been running the resort, will be leaving. “The Apprentice” franchise star Trump said he will spend $150 million renovating the 692-room hotel and redoing the four golf courses.
The Doral has been in bankruptcy since early 2011, when the hedge fund that owns it, Paulson & Co., sought Chapter 11 to fend off creditors.
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