Club Mahindra Holidays Plans INR 1200 Crore Investment Over The Next Three Years

Club Mahindra Holidays is preparing for a rapid expansion over the next three years. The business plans to spend Rs 1,200 crore over the next three years to create 1,000-1,500 more rooms.

"We are a cash-rich firm, and our cash position has increased from Rs 760 crore before to the pandemic to Rs 1,108 crore presently, so this ramp-up will be totally supported by internal accruals," stated Kavinder Singh, MD & CEO, Mahindra Holidays.

During the two years of the epidemic, the firm added 850 rooms and is now expanding its Shimla resort by 185 rooms at a cost of Rs 200 crore.

Additionally, it is developing a new 135-room resort in Ganapatipule, Maharashtra, at a cost of Rs 250 crore. Additionally, it plans to expand its Puducherry resort by 60 rooms at a cost of roughly Rs 55-60 crore, according to Singh.

Mahindra Holidays is also trying to expand its portfolio of properties, which includes locations in Mahabalipuram, Yercaud, and Kodaikanal, he noted.

The firm is adding around six resorts and 380 rooms this fiscal year (in Leh, Daman Shillong in India, and Bali, Colombo, and Pataya in the rest of the world), bringing its total to 85 resorts and 4500 rooms. The firm expects to have over 2,60,000 members by the end of FY21-22 and reported its highest-ever resort revenue of Rs 70 crore in Quarter 3.

More About Club Mahindra Holidays

Club Mahindra Holidays is a 1996-founded Indian hospitality firm. It is a subsidiary of the Mahindra Group and offers timeshare vacations. Mahindra Holidays & Resorts India Limited is a subsidiary of the Mahindra Group's Leisure and Hospitality division.