Dedicated with special affection to Sean and Colm.
One Wednesday afternoon in 2009, nearly 15 years ago, one memeber of the Board of Directors of the UNICRECE credit union Mr. Fernando Castilla Centeno (+) called me to meet with them. He explained that a couple of Irish expats, already residents of Mérida, had applied for a loan to establish a credit history with Mexican institutions. They planned to open a “pub” in a location unusual to them: Paseo Montejo.
The board members, mostly older Yucateco men, were initially puzzled by the concept of a ‘pub’ and the choice of Paseo Montejo since at that time, our main avenue, filled with banks and just a couple of hotels, would be deserted after 6 p.m. Paseo Montejo functioned as a sort of ‘financial district’ that shut down entirely after the close of business hours at 5 p.m. There were no notable restaurants, and the few hotels had an average stay of just one or two nights. Everything suggested that it wasn’t the right place. So, they asked: why not place the pub in the northern part of the city instead?
My task was to determine the project’s marketing and financial viability and based on that, recommend whether the line of credit should be approved. The applicants met all the requirements… but had no credit history in Mexico.
I reviewed the numbers, made financial projections, and conducted market analysis. Everything looked good, although the level of risk was high. Two weeks later, I presented my evaluation to the board. I explained that the applicants, had everything in order. I acknowledged that the food and beverage industry carries higher risks. Still, I also pointed out that the business model and plan complied with the National Banking and Securities Commission Regulations. The project was viable. However, the board members remained skeptical, especially about the location. They asked me to review the numbers again.
I repeated the analysis, adjusted the parameters according to the board’s requests, and returned with the results two weeks later. The discussion was heated. Despite the numbers showing viability, several members remained unconvinced. Having lived abroad for many years, I understood the concept of a pub perfectly. I knew that Mérida didn’t have anything like it, and the city was beginning to attract tourists and foreign residents. I defended it fiercely without knowing the applicants personally but believing firmly in the project and my work.
My uncle, a member of the board at that time, met with me and asked, “Are you truly convinced this project is that solid?” My answer was a definite yes. The board then put the pub assignment to a vote. It was approved by a single vote. Mr. Hennessey and Mr. Cooney became members of our credit institution, and their endeavor secured the line of credit.
Few things in life bring as much satisfaction as seeing, 14 years later, how a dream became a project, the project became a reality, and that reality is now known as Hennessey’s Irish Pub in Mérida.
Hennessey’s became more than Sean and Colm’s business venture for me, it’s my home, and its owners are now my friends. I have celebrated birthdays, anniversaries, class reunions and business lunches in that pub. I’ve also drowned my sorrows at the bar when things didn’t go as planned. From its tables to the bar, I’ve conceived business ideas, closed deals, and shared unforgettable moments with friends who have gone on the eternal journey—friends like Luis Roberto Guzmán -Benny, Panchito Solís, and Emilio Moller. I also celebrated there the launch of my first book, and received invaluable advice and help from Sean and Colm.
As I join the celebration of 14 years of success and challenges at Hennessey’s Irish Pub, I am convinced that this is just the beginning of many more years to come. So, here’s to the future and the continued success of this beloved establishment.
Sean, Colm, in the words of an old Irish saying: “May you have all the happiness and luck that life can offer, and at the end of all your rainbows, may you always find a pot of gold.”
Sláinte!
For Times Media Mexico / The Yucatan Times
José E. Urioste
Mérida, Yucatán
December 20, 2024
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José E. Urioste is a Yucatecan businessman and a seasoned Business Intelligence professional. In addition to his business acumen, Mr. Urioste writes for multiple media outlets nationwide. His writings are engaging and critical, and he is unafraid to tackle controversial topics and challenge prevailing norms with a clear and often unyielding perspective. He has significantly contributed to the media landscape, sharing his insights through articles and hosting radio shows that provide in-depth social, business, or political analysis.
