MA Hotel Management and Redcape have this morning announced that their CEO Dan Brady will exit his role at the end of the year. Brady will however remain as an advisor for the group after stepping down as CEO.

Brady has been COO of Redcape since 2012, and stepped up to CEO in 2017 when Moelis Australia – now known as MA Financial – acquired the group for roughly $670m. In the five years under Brady’s leadership the Redcape business and subsequent funds have grown to a value of roughly $1.8 billion.

At its recent quarterly investor update, MA Financial communicated to investors the successful completion of its hospitality platform’s five-year sustainable growth strategy which saw the Redcape fund deliver a Total Shareholder Return of 17.4 per cent per annum over the period, the progress of newly established funds and a forward-looking five-year growth strategy for MA Hotel Management and its managed funds.

The previous five year growth strategy saw Dan and the MA Hotel Management team take a measured and steady approach to the growth of the business with a strong strategic focus on its operating platform; data and digital capability; the advancement of its systems and processes to ready the business for scale; the strategic alignment of all stakeholders including capital partners, industry, regulators, supply chain and innovation partners; and a strong focus on the development of purpose driven, values-led leadership across its 1500-strong team.

“I set myself and the team a plan over the five years to build a robust business, secure strong returns for investors and achieve the successful integration of a people and community focussed, property backed operating business and a legacy for continued long-term growth. I am grateful for the support and opportunity to achieve this, and I leave the business in great shape, with exceptional people,” stated Brady.

MA Financial’s joint CEO Julian Biggins lauded Brady’s achievements at the helm of MA Hotel Management and Redcape.

“Dan has done an outstanding job leading our hospitality business. His energy and vision have contributed significantly to the tremendous growth and success of our business. Dan leaves us to pursue new opportunities with our best wishes and with the hospitality business in great shape.  Importantly, Dan is working closely with us and the established MA Hotel Management team to ensure a seamless and well-planned transition.”

Leave a comment

Your email address will not be published. Required fields are marked *