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Trump watches the World Golf Championships-Cadillac Championship at the Doral resort on March 10, 2013. Photo: Scott Halleran/Getty Images

The net operating income for Trump National Doral Miami resort, the flagship property and biggest moneymaker for President Trump's family business, has fallen by 69% over the past two years, according to a Washington Post analysis of its records.

Why it matters: A note from a tax consultant employed by The Trump Organization to a Miami official stated that the property faces "some negative connotation that is associated with the brand," which the Post notes is the first time that someone employed by Trump has acknowledged that the president's name could affect business.

The big picture: Doral took in $10 million less in revenue than The Trump Organization internally expected in 2017, according to financial documents filed to Miami-Dade County, Florida.

  • Its average room rates and the revenue available per room have also declined at rates greater than other comparable golf resorts in the Miami area.

The other side: The report isn't unprofitable despite the business hit as it has managed to cut back other expenses to make up for the revenue shortfalls.

  • In a statement to the Post, Eric Trump blamed the Zika virus and hurricanes for hurting tourism across South Florida in recent years.
  • He said, "This story is completely senseless. Our iconic properties are the best in the world and our portfolio is unrivaled by anyone."

Go deeper: Government agency ignored constitutional issues over Trump's D.C. hotel

Go deeper

Dan Primack, author of Pro Rata
6 mins ago - Podcasts

House antitrust chair discusses the bills to bust up Big Tech

House lawmakers last week introduced a series of five bipartisan bills designed to curb the power of Big Tech, targeting Apple, Amazon, Facebook and Google in all but name.

Axios Re:Cap speaks with Rep. David Cicilline (D-R.I.), chair of the House antitrust committee and a sponsor on most of the bills, to learn how he plans to get these measures over the finish line. The congressman from Rhode Island also faces a slate of other priorities and in the wake of a spending package to bolster the U.S. tech sector’s ability to compete with China.

Why online games have a shorter life span

"Grand Theft Auto Online" will join a growing list of obsolete games on older platforms this December when Rockstar Game shuts down the PlayStation 3 and Xbox 360 versions of the game.

Why it matters: Video game preservation is one of the biggest challenges when it comes to video games, physical or otherwise.

Historic heat wave expands across California, wildfire risk builds

Forecast high temperatures on Thursday from the National Weather Service. (Weatherbell)d

The record-breaking heat wave roasting the West is expanding its grip on Thursday, with the focus of the triple-digit heat shifting into California — particularly the Central Valley and desert regions.

Why it matters: Across the West, the combination of record heat, preexisting drought conditions, and dry lightning strikes from afternoon thunderstorms threatens to ignite numerous wildfires Thursday.