Dalata Expects 40 Per Cent Growth
Published on Oct 1 2012 11:01 AM in Hotel
Pat McCann, CEO of the country's largest hotel group Dalata, recently announced that the company's earnings are expected to increase by 40 per cent on the €2 million record last year. McCann commented...
Pat McCann, CEO of the country's largest hotel group Dalata, recently announced that the company's earnings are expected to increase by 40 per cent on the €2 million record last year. McCann commented: “It was a much improved performance last year. We had a low point in 2009 and we have continued to make progress since. Last year was a decent performance in a tough environment." Despite the recession, the group has been growing fast for the past few years, taking on management contracts for troubled businesses such as Dublin’s Citywest Hotel, the Heritage Golf and Spa Report in Portlaoise and Whites of Wexford. According to the group's CEO, the improved performance of the Dalata Hotel group in Dublin, as well as the companies strategy to operate more managed properties largely account for the anticipated 40 per cent growth in earnings before interest, tax, depreciation and amortisation (EBITDA) this year. Nevertheless, McCann feels it is still too early to celebrate: "There is good growth this year, but we are cautious. There are still issues around consumer demand. We are performing well, but there is still a long way to go."