The Trump golf course that was built and subsidized by New York City saw as 12 percent decline in revenues in the past year, according to The Washington Post.
The Trump Golf Links at Ferry Point in the Bronx was hurt by a drop in its banquet business and fewer golfers playing, the Post reports, citing documents filed by the private Trump Organization with the city. The documents were obtained by NYC Park Advocates through a public-records request and shared with the newspaper.
The course, built on a former trash dump, is owned by the city and operated by the Trump Organization under a 20-year contract that gives most of the revenue to President Donald Trump's company, the Post said.
A single round costs $175, compared with $20 to $51 at other public courses, according to the Post.
"We've built the most expensive golf course and the city's not getting any money," Geoffrey Croft of NYC Park Advocates said in an interview with CNBC. In a statement to CNBC, NYC Park Advocates also called the golf course "a bad deal for the city's taxpayers."
A spokesperson for the New York Parks Department defended the arrangement in a statement to CNBC, saying a former parks commissioner determined the courses "would be better served being run by people in the golf industry."
"Our golf courses are dramatically improved and better operated, while remaining affordable compared to private courses," the spokesperson told CNBC.
On Friday, the Trump Organization blamed bad weather for the decline in revenue, but said it was "incredibly pleased with the continued financial success" of the course.
"2016 had 15% more inclement weather than 2015 which reflects the 12.7% reduction in gross receipts," the organization said in an email to CNBC on Friday.