The Company has been planning to enter this segment for last 2 years.
Reason – asset light model of growing business.
The Company claims that the same got delayed due to the Covid pandemic. However, now it may enter into this soon as Company is bullish on revenge travel and expect the demand to pick up significantly in short to medium term.
The Company plans to roll out this business under a separate entity within Club Mahindra and would add upscale hotels, resorts and leisure destinations aimed at increasing the room inventory and hence the overall revenues.
The company, which enrolls members for long-term subscriptions, is also planning to invest $150 million over two to three years to increase the room inventory to 5,500 from 4,200 through acquisitions or through developing more of its own properties.