Pat McCann has no plans to check out from Dalata
At 67, Sligoman is planning for expansion with Dalata rather than retirement
Dalata Hotel Group chief executive Pat McCann. Photograph: Maxwell Photography.
Despite being in a position to draw the State pension and avail of the free bus pass, Dalata chief executive and co-founder Pat McCann appears to have no intention of retiring from the Republic’s largest hotel group.
McCann (67), presided over a strong set of results on Tuesday in which the company posted an increase in profits of 13 per cent to €87.3 million and a revenue rise of 11.8 per cent to €393.7 million. Its share price has had a good run recently, up 27 per cent in the year to date.
Since its foundation, McCann has been an integral part of the 40-hotel-strong group, guiding it to become the biggest hotel chain here, with a growing presence in the UK. McCann said this week that he has his eye on the City of London for opportunities. So far, the group has amassed a portfolio of three London hotels, two of which are in peripheral locations, with one in the prime financial hub.
Even Brexit can’t faze McCann, who turns 68 in September. “People are spending a fortune planning for something they’ve no idea what they’re planning for,” the sage of the Irish hotel industry told Cantillon. “You can do scenarios until you’re blue in the face and still end up with the wrong answer.”
His view on all those courses helping business people to get Brexit ready? “They’re a load of old rot.”
As to his own career, McCann has no plans to retire. “I’ve said to my board that when they see me becoming a dothery old git they should turf me out.”
Otherwise, he has “no plans”.
With plenty of headroom for expansion and a pay package last year of €1.7 million, McCann has every reason to keep going.