Mahindra Holidays & Resorts, which operated under the Club Mahindra brand of membership-only resorts, plan to add more than 300 rooms by March 2022. This will take the total inventory to 4,500 keys.
The Mahindra group operates 78 properties with 4,197 keys. They have been hitting about 80-percent capacity in the third quarter with hopes of even better numbers moving forward.
“We started this fiscal with 4,197 rooms and we are on course to close the year with an inventory of 4,500 rooms. We are adding a little over 300 rooms to our existing properties at Assonora in Goa and Ganapatiphule in Maharashtra,” Kavinder Singh, managing director and chief executive of Mahindra Holidays, told PTI.
While there was not an exact investment amount going into the project, the new additions are part of the planned Rs 1,200-crore capital investment to add over 1,000 rooms in the next three years ending FY24 when an inventory of over 5,500 rooms will be added.
Additionally, leisure properties are doing well overseas and there is hardly anyone looking for distress sales. Singh mentioned that they are always on the lookout for good assets as well.
Of the 78 properties that Club Mahindra operates, its Finnish subsidiary Holiday Club runs 33 timeshare destinations and nine spa resorts across Finland, Sweden, and Spain.
Learn more about Mahindra Holidays & Resorts on the brand’s website.
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