Dalata chief Pat McCann’s pay package hits €1.71m

McCann’s salary increased by €100,000 to €575,000 in 2017, while his bonus rose to €633,000

Dalata Hotel Group’s chief executive, Pat McCann, saw his remuneration package rise 6.8 per cent to €1.71 million last year. Photo: Dara Mac Dónaill

Dalata Hotel Group’s chief executive, Pat McCann, saw his remuneration package rise 6.8 per cent to €1.71 million last year. Photo: Dara Mac Dónaill

 

Dalata Hotel Group’s chief executive, Pat McCann, saw his remuneration package rise 6.8 per cent to €1.71 million last year, according to the company’s latest annual report.

Mr McCann’s salary increased by €100,000 to €575,000 in 2017, while an increase in his bonus, to €633,000, more than offset a decline in benefits under the hotel operator’s long-term incentive plan.

The remuneration packages of deputy chief executives, Stephen McNally and Dermot Crowley both breached the €1 million level last year.

Results released at the end of February showed that profit before tax at the group increased more than 75 per cent to €77.3 million in 2017 while revenue increased to €348.5 million. Additionally, it announced plans to pay a dividend from 2018 onwards.

The company’s share price advanced by 43 per cent last year.

Dalata Hotel Group is Ireland’s largest hotel operator with a current portfolio of 38 hotels with over 7,500 rooms. The Dublin and London-listed company founded in 2007 operates the Clayton and Maldron brands across Ireland and the UK and manages a small portfolio of “partner properties”.