Key business plans of Mahindra Holidays

Target Date - March 31, 2029

Mahindra Holidays and Resorts has shared the following –

  • The company had 2.8 lakh members as of December 2022.
  • It will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 cr
    • At present, the company has 4,900 keys inventory across 119 properties; 60 per cent of them are owned properties and the rest leased.
    • It will add 600 keys to take inventory to 5,500 by FY25 and an additional 1,500 over the next 3-4 (after FY25), taking the total to 7,000.
    • Above additions exclude the lease additions of which the Company has not finalised the growth plans.
    • Of Rs 1,800 cr, Rs 750 crore worth work is already on for greenfield and brownfield projects. It includes a new Rs 250 crore property in Ganapati Phule, Maharashtra, and expansion of existing properties in Pondicherry and Goa.
    • The key focus area for greenfield development will be the Konkan coast across Maharashtra and Karnataka, apart from Gujarat, Andhra, Odisha and Bengal coasts and also Delhi-NCR.
  • The Company is pursuing a new business model of public-private partnerships with the state governments.
    • Company is already started running a 20-key boutique resort at Jhanjheli near Baddi with the Himachal government.
    • An agreement has been signed with the Maharashtra tourism department to run a 100-key resort in Harihareshwar near Alibaug.
    • The Company has also signed up for a 50 acre land parcel in Madhya Pradesh for a PPP project.
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