Report: Trump to buy Doral Golf Resort

Feb. 25, 2012 at 11:53 AM

MIAMI, Feb. 25 (UPI) -- Donald Trump is on the verge of acquiring the landmark Doral Golf Resort in Florida and carrying out a major renovation, sources told The Miami Herald.

An announcement of the $150 million sale could come as early as next week and put Doral on course for a conversion into a luxury golfing getaway for well-heeled visitors.

The Herald said Saturday Trump plans to be at Doral for the March 7-11 Cadillac championship tournament on the famed Blue Monster course. He'll no doubt be a high-profile presence along with Tiger Woods, Luke Donald and Rob McIlroy.

Trump is expected to be the only bidder for Doral, which is currently in bankruptcy. The transaction depends in large part on Trump negotiating a settlement with Marriott, which holds the management contract for the 692-room resort.

The Herald noted Doral would not be Trump's first foray into Florida real estate, not all of which have been successful. Trump has also dismissed the timing of his interest in Doral, saying it was not related to the debate over allowing casino gaming in the state.

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