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Mahindra Holidays & Resorts India, the nation's premier timeshare corporation, has disclosed plans to debut a fresh resort brand to cater to India's rapidly expanding traveller demographic. With an impending launch, the brand is ready to rival established market leaders, presenting accommodations on a nightly basis.
The firm is committed to scaling its room inventory to a whopping 10,000 rooms by the end of this decade, a staggering 100% increase from current levels. Arun Nanda, the chairman of the company, in an exclusive conversation, revealed, “We are gearing up to introduce this new brand alongside our existing resorts. The initiative aims to attract a broader customer base and expedite on-site sales for procuring new timeshare memberships.”
Expansion is underway with the acquisition of land parcels adjacent to current locations. Moreover, future sites will accommodate both verticals.
Since its inaugural timeshare resort launch in 1998, Mahindra Holidays has ascended to become a dominant force in the vacation ownership market with over 280,000 members domestically and a notable market valuation of approximately 7,000 crore INR.
In unison with its Finnish subsidiary, Holidays Club Resorts (HCR), the company boasts over 340,000 members globally and provides them access to a staggering 135 resorts across India, Asia, Europe, and the US.
Currently, the firm is pumping 800 crore INR into extending its existing resort chains. Planned developments include a 257-room flagship resort in Kandaghat, Himachal Pradesh, a 244-room resort in Goa, and a 187-room establishment in Puducherry.
Greenfield projects are in the pipeline in Theog, near Kufri (HP), Ganpatipule (Maharashtra), and public-private partnership undertakings with local administrations in Janjehli (HP), Harihareshwar (Maharashtra), and Chilika Lake (Odisha).
The corporation, carrying zero debt and owning the lion's share of its resorts, reported a 20% hike in total income at 2,624 crore INR, with a net profit surge of 54% to 171 crore INR. With the extended stays due to remote work policies, the upgrades in the last fiscal were 71% higher than the previous year, indicating robust customer confidence in their services.
Nanda revealed that the Finnish subsidiary, HCR, has reimbursed long-term debts amounting to roughly €35 million, significantly enhancing the company's net worth. By 2024-25, the company envisages being entirely debt-free, offering the prospect of aggressive timeshare construction in sales.
In conclusion, as Nanda, who retires from the board after a commendable 26-year tenure, prepares to devote his post-retirement time to social activities, the ambitious expansion blueprint reflects Mahindra Holidays' dedication to thriving in India's competitive vacation ownership sector. In addition to enhancing domestic offerings, the company's increasing global presence, coupled with a robust financial performance, has positioned it as a formidable player in the global hospitality industry.
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